Lahore : Nov 21 : The Punjab is going to start crushing season 2023-24 from November 25 . A formal notification to this effect was issued by the Punjab government on Tuesday. As the Punjab government fixes November 25 for commencement of the crushing season for the current year , it also notified Rs 400 per maund sugarcane support price.
The sugar industry is going into the fresh crushing from November 25 when it has a huge carryover of 0.8 million tons. Sources said Pakistan Sugar Mills Association (PSMA) presented its case of huge surplus at a Sugar Advisory Board meeting held in Islamabad on Tuesday. The sugar industry also informed the Sugar Advisory Board that the government should buy sugar at least to the size of surplus stocks to help the industry pay fixed price of sugarcane to the growers.
PSMA team also claimed in the meeting that Pakistan will produce around 7 million tons sugar this year. It also argued that in the case the government delayed buying of sugar from the Millers it will create serious financial crisis for the sugar industry.
“We are forced to start fresh crushing with 0.8 million tons stocks of sugar in hand and the only way to provide a win -win situation is that TCP or PASSCO should buy at least 1 million tons sugar from the growers” , said a PSMA member who attended the Sugar Advisory Board meeting on Tuesday.