Minister assures no sugar shortage, prices to be controlled

Federal Minister for National Food Security, Rana Tanveer Hussain, addressed concerns about a sugar shortage in Pakistan. He stated there is enough sugar to meet the country's demand. Retail prices have recently soared to between Rs170 and Rs180 per kilogram. However, he blamed this increase on profiteers and hoarders, not on a lack of supply. Hussain issued a commitment that the retail price of sugar would not rise above Rs164 per kg, while the ex-mill price would be capped at Rs159 per kg. He promised strict action against anyone violating these price limits. The Pakistan Sugar Mills Association is also selling sugar at Rs130 per kg at local stalls during Ramadan, while Utility Stores offer it at Rs153 per kg. The minister criticized media reports that suggested a sugar crisis, claiming they create panic among the public. He highlighted that Pakistan produced 7.6 million tons of sugar last year, with only 6.3 million tons needed for domestic use, allowing room for exports. Production this year is estimated at around 6 million tons, plus a carryover of 0.5 million tons, totaling 6.5 million tons available to meet local needs. Recently, Prime Minister Shahbaz Sharif formed a committee to negotiate price reductions with the Pakistan Sugar Mills Association amid rising prices. According to the Pakistan Bureau of Statistics, while sugar prices had risen for 16 weeks straight, they fell slightly to an average of Rs170.40 per kg as of March 20. In contrast, the average price was Rs131.85 per kg in late November 2024. Additionally, data shows Pakistan exported over 757,000 metric tons of sugar in the first part of the fiscal year.