ISLAMABAD: Pakistan Sugar Mills Association Chairman Iskander Khan has said that the exporters have sealed deals to export 250,000 tonnes of sugar after the government approved a subsidy of $100 a tonne in December for overseas sales of 650,000 tonnes of the sweetener.
Iskander said that the millers have sealed export deals at $370-$400 a tonne for prompt deliveries to the buyers in Africa, Central Asia and the Middle East.
Pakistan produces about 6 million tonnes of sugar but consumes only around 4.5m tonnes a year. Local sugar prices have dropped 13 per cent over the past six months, falling below the cost of production and stoking worries about mills going bust.
