ISLAMABAD: Pakistan’s sugar exports to Afghanistan recorded a whopping enhance of 4332% within the first seven months of FY 2024-25, ARY Information reported on Monday.
In line with the official figures, from July to January, Pakistan’s sugar exports to Afghanistan reached $262.68 million in contrast with $5.93 million through the corresponding interval in 2023.
Pakistani sugar exports to Afghanistan elevated by $256.76 million 12 months-Over-12 months (YOY). This large enhance has made sugar the most important contributor to Pakistan’s exports to Afghanistan.
Since December, sugar costs have elevated by Rs26 per kg, and final 12 months, profiteers pushed charges as much as Rs180 per kg.
In line with Wholesale Grocers Affiliation Chairman Rauf Ibrahim, sugar costs within the wholesale market have climbed to Rs150 per kg, whereas advance offers for March have reached Rs152/kg.
Merchants declare that the hoarding mafia is energetic, and with Ramazan approaching, there’s a critical danger of additional worth hikes. Pakistan’s month-to-month sugar consumption stands at 550,000 tons, however throughout Ramazan, it jumps to 1 million tons.
Merchants warn that if the federal government doesn’t take quick motion, sugar costs might spiral additional throughout Ramazan.
Learn Extra: Sugar worth hits Rs160/kg in Karachi
The federal cupboard’s choice in October 2024 to approve the export of an extra 500,000 metric tons of sugar has performed a big position on this surge.
Nevertheless, the cupboard had additionally imposed circumstances to make sure worth stability and home provide, together with fixing the retail worth of sugar at Rs145.15 per kilogram and monitoring sugar costs to stop worth hikes.
The federal cupboard stated that exports can be cancelled instantly if costs exceeded this benchmark.