LAHORE: Pakistan Sugar Mills Association (PSMA), Punjab Zone, Chairman Javed Kayani has said there is no possibility of shortage of sugar in view of large stocks of the commodity.

In a press statement on Wednes­day, he said it was a baseless allegation that mills had curtailed supplies deliberately to increase prices.

“Mills were keeping huge stocks and there was no sale of sugar for the last one month. In such a situation blaming mills for planning to create artificial shortage was neither justified nor truthful.”

He said for the last four years surplus stocks had kept the prices subdued and with sugarcane price of Rs180 per 40kg our cost of production worked out to be around Rs62/63 per kg ex-mill.

“That is why we sought permission to export and restrict dumping of sugar to ensure payment to farmers”, he added.­

Published in Dawn, August 6th, 2015

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