PSMA to give exchequer some sugar

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The Pakistan Sugar Mills Association (PSMA) has envisaged a production of about 5 million metric tons(MT) sugar during forthcoming crushing season against domestic requirement of approximately 4.2 million tons.
A representative of Pakistan Sugar Mills Association told “Online” on Saturday that a total quantity of about 5 million MT sugar is expected to be produced during the season 2012-13, which is likely to surpass all previous production figure. He said with anticipated carryover of 0.4 million tons sugar and meeting the domestic requirement of approximately 4.2 million tons.
He said a total quantity of 4,670,379 million tons sugar was produced during the crushing season 2011-12 at the beginning of the crushing season 2011-12 the left over stocks from 2010-11 were 0.9 million tons. The average annual domestic consumption of sugar is around 4.2 million tons and about 1.5 million tons sugar was calculated as surplus.
The Economic Coordination Committee (ECC) of the cabinet had allowed export of a total quantity of 300,000 tons sugar out of which 100,000 metric tons in January whereas 200,000 tons in May 2012 and placed export quota restriction of 5,000 per sugar mill. Reportedly 95 per cent of the quantity allowed has been allocated to the sugar mills. However, only 133,471 tons sugar has been actually exported them.
On the request of Prime Minister of Tajikistan, export of 30,000 tons sugar has been allowed to Tajikistan on government to government bases from Trading Corporation of Pakistan (TCP) reserves at preferential price, however, the export has not materialized yet. The representative said a total quantity of 3,080,586 tons sugar has been sold by sugar mills to the open market till September 25th, 2012.
“TCP had procured 687,000 tons sugar during 2011-12 from local sugar mills out of which a quantity of 358,119 tons sugar has been sold to Utility Stores Corporation of Pakistan (USC) and 150 tons to Pakistan Navy till 27TH September, 2012,”a TCP official said, adding that in addition to that 30,000 sugar would be exported to Tajikistan whereas a quantity of 298,731 ton sugar is presently available with TCP which is expected to last up to February next year for surplus to USC 50,000 tons sugar per month.