Under the recent Sugar Policy 2013, Pakistan is likely to face sugar shortage, which will also increase its price on back of impractical export policy of the sweetener. Just a couple of months ahead of the elections, due to the provision by the government providing conditional relief to the sugar mills by reducing the Federal Excise Duty (FED) by 7.5 percent to 0.5 percent from 8.0 percent, the country’s stockpile would come down to around 400,000 tonnes, sources in the [...]
January 17, 2013 5:37 am
Pakistan allowed exports of 500,000 tons of sugar in 2012 to trim surplus stocks and boost domestic prices. SINGAPORE: White sugar from India and Pakistan was traded to the Middle East this week as Japanese consumers chased nearby cargoes, but Thai hi-pol raw sugar struggled amid competition from cheaper Brazilian stocks, dealers said on Tuesday. In other parts of Asia, the second-largest consumer China was well stocked ahead of the Lunar New Year break in February while Indonesia stayed away [...]
January 17, 2013 5:21 am
Sugar output in India, the biggest producer after Brazil, is set to decline in the year from October as domestic prices fall on cheaper imports and dry weather curbs planting, the Indian Sugar Mills Association said. Production will probably slide from 24 million metric tons in the year ending Sept. 30, M. Srinivaasan, president of the association, said in a phone interview. Decreasing local prices will hamper mills’ ability to make timely payments to farmers, encouraging them to switch to [...]
December 19, 2012 6:29 am
Pakistan is likely to produce five million tons of sugar in the October 2012 to end-September 2013 season, against demand of 4.3 million tons. Pakistan has allowed another 500,000 tons of sugar exports, the government said, bringing the total to 1.2 million so far this year, as it seeks to generate foreign exchange for state coffers and revenue for cash-strapped mills. Pakistan returned to the export market earlier this year for the first time since 2009 and is becoming a [...]
December 11, 2012 8:14 pm
Workers carrying sacks of Pakistani sugar on their backs. SINGAPORE: White sugar from Pakistan attracted buying interest from the Middle East while Thai raw sugar premiums were little changed this week as physical trading began to slow down ahead of the year-end, dealers said on Tuesday. Pakistan has allowed the export of an extra 200,000 tonnes of sugar, on top of the 300,000 tonnes already allowed, as the government aims to trim surplus stocks and boost local prices. “Pakistan is [...]
November 11, 2012 6:08 am
The nation will probably never know the names of those who made billions out of the sugar price scam of 2009 as a judicial commission could not complete its investigation in absence of much-needed financial resources. Justice (retd) Sardar Raza Khan, who was the sole member and head of the commission, quietly tendered his resignation almost 15 months ago after he got the ‘cold shoulder’ instead of a helping hand from the government, according to people close to Khan. Khan, [...]
November 4, 2012 8:10 am
The price of per maund of sugarcane should be equal to the price of 4 kg of sugar according to the mechanism set by the Agriculture Price Committee. The sugarcane support price, announced a few days ago, has created a wave of uncertainty among farmers and sugar millers across Punjab as the former believe that the price will not even cover their cost of production and the latter consider it higher that will push sugar prices in the market. Punjab [...]
November 4, 2012 7:46 am
Cane Commissioner, Punjab, has convened a meeting of sugar growers and sugar millers on November 15 (Thursday next week) to discuss the issue of sugarcane support price. Reservations of sugar millers and growers will also be discussed in the meeting, as any controversy might delay the start of the crushing season in the province, sources said on Saturday. “The Punjab government had announced Rs 170 per 40 kilograms as minimum purchase price of the sugarcane against last year’s price of [...]
October 26, 2012 4:26 pm
Sugar growers have demanded that the government increase the support rate of sugarcane at Rs300 per maund or more. MATLI: It is uncertain when the sugar crushing season will be initiated in Badin, as growers have refused to supply sugarcane to sugar mills, terming the government’s purchase price as insufficient. The Badin district is called the sugarcane belt of Sindh, as five major sugar mills – Dewan Sugar Mills, Mirza Sugar Mills, Army Welfare Sugar Mills, Pangrio Sugar Mills and [...]
October 20, 2012 4:28 am
The State Bank of Pakistan (SBP) on Friday announced procedure for sugar export and advised all banks to get appropriate approval of all sugar export cases from the central bank. The Ministry of Commerce has already allowed 0.2 million tons of sugar export and a Public Notice No 7(2)/2012-E-III on October 12, 2012 was issued for information. As per federal government directives the State Bank will monitor the export of sugar and no E-Form will be issued in excess of [...]
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