Despite rising retail prices, sugar exports increased by a whopping 100% in July, according to data from the Pakistan Bureau of Statistics.
While consumers battle exorbitant sweetener prices at home, sugar exports in July increased to 5,542 tonnes from zero in the corresponding month last year. Due to repeated requests from the Pakistan Sugar Mills Association during a recession, the previous administration allowed sugar exports last year.
While Pakistan also imported 574 tonnes of sugar in July, representing an increase of over 20 percent on an annual basis, many have questioned the government’s decision in light of the rising retail prices of sugar following exports.
In contrast to last year’s zero sales, Pakistan exported a staggering 215,752 tonnes of sugar during the first five months of FY23. This new pattern began in February 2023, when 42,434 tonnes of sugar in total were exported.
As a result, in March, the volume rose to 129,746 tonnes. Exports, which totaled 40,716 tonnes in April, were also robust. It then slowed to 1,893 tonnes in May before falling even further to 963 tonnes in June. In July, the amount of exports fell drastically to 5,542 tonnes. Due to excessive exports, the average retail price of sugar has increased to Rs. 160 per kg, with additional price increases anticipated in the coming months.
