ISLAMABAD: Pakistan’s sugar exports to Afghanistan skyrocketed by an incredible 3473% in the first half of the fiscal year 2024-25, making sugar the top export product to the neighboring country, according to official figures.
Between July and December 2024, sugar exports reached $211.8 million, a massive jump from just $5.9 million during the same period in 2023.
Overall, Pakistan’s exports to Afghanistan also rose significantly, increasing by 52% to $753.8 million compared to $495.2 million in the same period last year. In December 2024 alone, exports surged by 103% year-over-year, totaling $175.1 million compared to $86 million in December 2023.
This surge was largely driven by the federal cabinet’s decision in October 2024 to approve an additional export of 500,000 metric tons of sugar. To stabilize prices and ensure sufficient domestic supply, the government imposed conditions, including:
- Fixing the retail price of sugar at Rs145.15 per kilogram.
- Monitoring sugar prices to prevent hikes.
- Cancelling exports if domestic prices exceeded the set benchmark.
Mill owners were also instructed to keep the ex-mill sugar price below Rs140 per kilogram, while the Sugar Advisory Board and provincial governments were tasked with regular price monitoring.
Since June 2024, Pakistan has allowed the export of 750,000 metric tons of sugar, with the State Bank of Pakistan providing fortnightly updates to the Economic Coordination Committee on the export status.