Sugar exports surged by a whopping 100 percent in July despite soaring retail prices, according to data by the Pakistan Bureau of Statistics.

As citizens struggle with extortionate sweetener prices at home, sugar exports in July stood at 5,542 tons against zero exports in the same month last year. The previous government had allowed sugar exports last year after repeated pleas by the Pakistan Sugar Mills Association in the midst of an economic downturn.

Soaring retail prices of sugar after exports have left many to question the government’s decision while Pakistan also imported 574 tons of sugar in July, showing an increase of over 20pc on a year-on-year basis.

Pakistan exported a massive 215,752 tons of sugar during the first five months of FY23 against zero sales last year. A total of 42,434 tons of sugar was exported alone in February 2023, marking the start of this new trend.

Consequently, the volume increased to 129,746 tons in March. Meanwhile, exports also remained strong in April, at 40,716 tons. Then it decelerated to 1,893 tons in May, further dropping to as low as 963 tons in June. The volume of exports plummeted considerably in July, reaching 5,542 tons. Sugar’s average retail price has risen to Rs. 160 per kg as a result of excessive exports, with more hikes expected in the coming months.

Source: Pro Pakistani