Pakistan can get Indian sugar cheaper & faster if trade reopens
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Last Updated: Apr 04, 2021, 04:58 PM IST
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Sugar prices in the retail markets of Pakistan have spiralled sharply up to PKR 100 per kg due to production shortages and the country is mulling over imports. The Pakistan Economic Coordination Committee (ECC) has recommended the government to allow import of 5,00,000 tonnes of white sugar to boost domestic availability.
Agencies
Pakistan is the world s eighth largest producer and consumer of sugar. Sugarcane is grown on approximately 1.2 million hectares and provides the raw material for 89 sugar mills.
Pakistan can get Indian sugar cheaper and faster if the sugar-deficit neighbouring country resumes trade with India and contain its rising retail prices of the sweetener out there during Ramadan that will commence soon, sugar industry bodies said on Sunday.
NEW DELHI: Pakistan can get Indian sugar cheaper and faster if the sugar-deficit neighbouring country resumes trade with India and contain its rising retail prices of the sweetener out there during Ramadan that will commence soon, sugar industry bodies said on Sunday.
Sugar prices in the retail markets of Pakistan have spiralled sharply up to PKR 100 per kg due to production shortages and the country is mulling over imports. The Pakistan Economic Coordination Committee (ECC) has recommended the government to allow import of 5,00,000 tonnes of white sugar to boost domestic availability.
Last week, there were sudden hopes of trade reopening between the two nations. However, Pakistan s cabinet back tracked on the Pakistan ECC decision to allow import of sugar and cotton from India.
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MUMBAI (Reuters) - India s cabinet on Wednesday approved a subsidy of 35 billion rupees ($475.78 million) to encourage cash-strapped mills to export 6 million tonnes of sugar in the 2020/21 year that started on Oct. 1.
The export subsidies are designed to increase shipments from the world s second biggest sugar producer, reducing brimming inventories. But that could pressure global prices which are already trading near their lowest level in 7-weeks.
An outstanding export subsidy amount of 53.6 billion rupees from the previous year will be transferred to the accounts of sugar cane farmers within a week, information minister Prakash Javadekar told reporters after the cabinet meeting.
India approves subsidy to export 6m tonnes of sugar in 2020/21
A labourer carries a sack filled with sugar to load it onto a supply truck at a wholesale market in Kolkata, India. Photo: Reuters/File Reuters, Mumbai Reuters, Mumbai
India s cabinet on Wednesday approved a subsidy of 35 billion rupees ($475.78 million) to encourage cash-strapped mills to export 6 million tonnes of sugar in the 2020/21 year that started on Oct. 1.
The export subsidies are designed to increase shipments from the world s second biggest sugar producer, reducing brimming inventories. But that could pressure global prices which are already trading near their lowest level in 7-weeks.