Islamabad, November 19, 2023 (PAKONOMY): In a crucial development for Pakistan’s sugar market, Punjab and Sindh have announced disparate rates for sugarcane, creating a potential crisis as the crushing season looms. Sindh sets the rate at Rs425 per maund, while Punjab stands firm at Rs400. This difference could have significant implications for growers, millers, and the national market equilibrium.
Growers in Punjab are fervently advocating for a Rs25 increase in cane prices, highlighting the potential Rs20,000 per acre loss they may face. The struggle between growers and millers intensifies, raising questions about the fairness of policies favoring millers at the expense of farmers.
Trader Muhammad Hussain expresses skepticism about maintaining different prices for millers in Sindh and Punjab, emphasizing the potential impact on sugar prices in both regions. Additionally, concerns are raised about millers’ demands for export permits, potentially leading to market manipulation and challenges for the government in controlling prices.
In conclusion, the sugar market faces uncertainties as the rate differentials between Punjab and Sindh come to the forefront. The resolution of this disparity is pivotal for a stable and equitable sugar market in the upcoming crushing season.