215,752 tonnes of sugar exported in FY23

Pakistan exported a significant quantity of 215,752 tonnes of sugar during the February-June period of the outgoing FY23 against zero foreign sales in the comparable period the preceding year, causing a surge in domestic retail prices of the sweetener, showed data compiled by the Pakistan Bureau of Statistics (PBS). The sugar industry had been demanding permission for the export of surplus volumes since March 2022 when the price was in the range of Rs80-85 per kg, but the PMLN-led coalition government allowed it in February this year. The decision was made in response to the demands of coalition partners, particularly the Pakistan People’s Party (PPP). A total of 42,434 tonnes of sugar was exported alone in February, marking the beginning of this new trend. The following month, the volume tripled to 129,746 tonnes. The exports remained robust with a total of 40,716 tonnes in April. It started slowing down to 1,893 tonnes in May and then to 963 tonnes in June.