Islamabad: Pakistan’s sugar exports to Afghanistan recorded a dramatic increase of 3473% in the first half of FY 2024-25, according to ARY News.
This sharp rise has made sugar the largest contributor to Pakistan’s exports to Afghanistan, showing a record 3473 per cent increase from July to December 2024.
Official data revealed that sugar exports reached $211.8 million, compared with $5.9 million during the same period in 2023.
Overall, Pakistani exports to Afghanistan also rose by 52 per cent, reaching $753.8 million in the first six months of the current fiscal year, compared with $495.2 million during the same period in 2023.
In December 2024, Pakistani exports to Afghanistan increased by 103 per cent Year-Over-Year (YOY) and 36 per cent Month-Over-Month (MoM), with total sales amounting to $175.1 million, compared to $86 million in December 2023 and $129 million in November 2024.
The federal cabinet’s decision in October 2024 to approve the export of an additional 500,000 metric tons of sugar significantly contributed to this growth.
However, the cabinet also set conditions to maintain price stability and domestic supply, including fixing the retail price of sugar at Rs145.15 per kilogram and monitoring sugar prices to prevent hikes.
The federal cabinet warned that exports would be halted immediately if prices exceeded this benchmark.
The sugar advisory board will report on a fortnightly basis about price movements, and the provincial governments have also been advised to do so.
Moreover, the mill owners have been urged not to let the ex-mill sugar price exceed Rs140 per kilogram.
The State Bank of Pakistan will keep the Economic Coordination Committee informed about sugar exports every 15 days.
As per sources, it is worth mentioning that a total of 750,000 tons of sugar have been approved for export since June 2024.
