Pakistan struggles to export sugar surplus as global prices plunge.

Global prices have fallen over a quarter so far in 2017 to around $378 a tonne as output is expected to climb in key producers like India, China and Thailand. Sugar cane is a popular crop in the country as the government sets procurement prices, while the industry is protected by a 40 per cent import tariff which has led to high domestic prices. The country last had an export subsidy in 2015/16, set at 13,000 rupees ($124) per tonne for exports of 650,000 tonnes of the sweetener, and a similar subsidy level is needed again. The country produced 7 million tonnes of sugar in the 2016/17 marketing year ending September 30, exceeding local demand of around 5 million tonnes, and the association pegs this year’s crop at a record 8 million tonnes. Industry urges govt to allow export of 2m tons of sugar.