An increase in sugarcane prices ahead of the upcoming crushing season is expected in Pakistan’s Punjab which may help to skyrocket sugar rates, reported 24Digital.
As per media report, the food department is contemplating a sugarcane price hike ranging from Rs 125 to Rs 150 per maund. The Cane Commissioner’s office, in its proposal, suggests a new sugarcane price within the range of Rs 425 to Rs 450 per maund. Meanwhile, the agriculture department has put forward a proposal to raise the sugarcane price to Rs 440 per maund.
Presently, the prevailing price of sugarcane stands at Rs 300 per maund. It is expected that the production cost of sugarcane will see an increase in the upcoming season.
In response to these developments, Punjab Chief Minister Mohsin Naqvi has issued directions to commence the crushing season from October 28. The Sugar Advisory Board is set to convene a meeting on November 6 to discuss these matters further.
On a related note, sources have indicated that farmers are advocating for a sugarcane price of Rs500 per maund.
