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Site update: April 09 2024, at 16:45 PKST
Stock update: April 09 2024.

Recent Financial News in the 'sugar' category

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Wednesday, April 03 2024

Millers begin lobbying for 1m tonnes sugar export
With sugar prices already up 42 per cent over last year, the influential sugar industry has started lobbying for major exports – at least one million tonnes – to “ensure payments to farmers”. Informed sources said the sugar millers had already activated their political channels in the new government to secure permission for sugar exports and some procurements by the government for strategic reserves to ensure higher profitability notwithstanding the inflationary pressures in the country. In a formal letter, the Pakistan Sugar Mills Association (PSMA) also asked Commerce Minister Jam Kamal to start the approval process for exporting at least one million tonnes in two equal instalments as the crop output was almost 1.5 million tonnes higher than the domestic needs.
Related news categories: business economic-indicators misc sugar

Tuesday, March 19 2024

Minister assures sugar industry of resolving issues
ISLAMABAD: Commerce Minister Jam Kamal on Monday met separately with sugar millers and ethanol manufacturers with the former seeking unrestricted molasses exports and the latter requesting that it be converted into a value addition before being shipped out of the country. The meetings held at the commerce ministry aimed at fostering dialogue and finding feasible solutions to the challenges faced by these sugar industries. Senior commerce ministry officials and representatives of the Pakistan Sugar Mills Association (PSMA) and Ethanol Manufacturer Association attended the meeting. An official announcement said the PSMA representatives voiced apprehensions regarding the anticipated increase in tariffs for molasses exports. They highlighted the importance of encouraging molasses exports to bolster foreign exchange reserves.
Related news categories: business economic-indicators misc sugar

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