ISLAMABAD, Dec 23: The Pakistan Sugar Mills Association (PSMA) has predicted bumper sugarcane crop in the coming sugar crushing season.

The PSMA Chairman, Punjab chapter, Zaka Ashraf, hoped that the country would get a bumper sugarcane crop this year as the crop conditions and the acreage yield appeared to be very good.

Mr Ashraf said that the exact figures of sugarcane production would be made available in February/March next. He, however, expressed grave concern over the regular decline of sugar prices in the country since the start of sugarcane crushing season. The association warned that the sugar industry as well as stakeholders would suffer if the prices crisis persists this year.

He said that the surplus import of sugar due to reduction in duty and 10 per cent export rebate given by the Indian government were the main factors behind the current prices slump.— A Reporter