Pakistan: Sugar Annual
Despite a generous export subsidy aimed at moving 2017/18 sugar off the domestic market, stocks continue to rise as only 1 million metric tons of sugar that are expected to be exported, well below the 2 million metric tons that were eligible for a subsidy. 2018/19 stocks are projected at 4.7 million metric tons, equivalent to nearly a full year of domestic consumption. Pakistan’s marketing year (MY) 2018/19 sugar production is forecast at 6.5 million tons, down 12 percent from the revised 2017/18 estimate as delays in cane payments and reduced expectations surrounding support pricing are prompting some farmer to switch to other crops such as cotton.
