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.
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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.
Ethanol blending in India has reached more than 7.2 per cent the first time it has reached this level in the first four months of the ethanol supply year 2020-21 (December to November), putting the country on course to meet the target of 10 per cent blending by 2022.
According to industry sources, if oil-marketing companies (OMCs) lift the ethanol they had contracted for, in the next few months all-India average blending could be even near 8 per cent by the time the season ends in November. So far, the best ever ethanol blend with petrol has been around 5.2 per cent at all-India level.
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.
Payment arrears from sugar mills to cane farmers go up to ₹23,000 crore
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Appeal made to Centre to hike the minimum selling price of sugar
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Appeal made to Centre to hike the minimum selling price of sugar
Halfway through the marketing season, payment arrears from sugar mills to cane farmers have almost reached ₹23,000 crore, leading mills to lobby for the Centre to hike the minimum selling price of sugar. With regard to exports, millers hope that the decision to permit sales to Pakistan and facilitate sales to Iran will help meet targets.
Central government data showed that, as on February 28, dues of ₹22,900 crore were pending for the cane procured in the current season, which began in October 2020. March and April make up the peak crushing season for sugar. A year ago, arrears stood at around ₹19,200 crore.
"This resumption of sugar imports by Pakistan will open another market for sugar exports from India and will help ensure that the target of 6 million tonne of sugar exports is met by September 2021," ISMA said in a statement.