Islamabad: (RightNow) The Pakistan Sugar Mills Association has sent a letter to the Federal Minister for National Food Security, requesting permission to export 600,000 metric tons of surplus sugar.

According to the letter, the government had promised to allow surplus sugar exports last year, but it was not implemented. The association has proposed exporting an additional 550,000 metric tons of sugar with the start of the new crushing season.

The association stated that exporting sugar could bring in $575 million in foreign exchange. The country currently holds 7.967 million metric tons of sugar reserves, with 1.181 million metric tons in surplus.

The letter mentioned that due to better payments to sugarcane farmers, an 8 million metric ton sugar production is expected in the upcoming crushing season.

It is noteworthy that local sugar prices are currently below production costs, making export permission essential to provide relief to the industry and farmers.