150,000 tonnes of sugar sold for export

Producers have sold at least 150,000 tonnes of sugar for export since late January after the government allowed sales abroad, traders said on Friday. The sales have mostly been to neighbouring Afghanistan but also to buyers in Saudi Arabia and elsewhere in the Middle East, Myanmar and east Africa, traders said. Sales were reported at between $520 and $540 a tonne ex factory for exports to Afghanistan and at between $543 and $555 a tonne FOB Karachi or Port Qasim for shipment to other destinations by March 31, they said.
After a good crop, Pakistan's government has approved exports of up to 225,000 tonnes of sugar up to March 31, a letter from the State Bank of Pakistan sent to traders said. "Sales are strong and it is anticipated that the full 225,000 quota will be sold and exported by the end of March," one European trader said. Pakistan had about 1.23 million tonnes of sugar stocks, one Pakistani trade source said, enough to provide a safety buffer and allow exports.