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Pakistan struggles to export sugar surplus as global prices plunge

Reuters  |  KARACHI/MUMBAI 

By Syed Raza Hassan and Rajendra JadhavKARACHI/MUMBAI (Reuters) - Pakistan's sugar industry is urging the government to reinstate export subsidies after a steep fall in global sugar prices has slowed shipments, adding to a domestic surplus just as the country prepares to harvest a record crop.Without revenues from exports, local mills will struggle to pay farmers for new supplies, while large stockpiles will stop domestic prices from rallying in the world's eighth-largest sugar producer, industry officials said. Prime Minister Shahid Khaqan Abbasi met with the politically influential industry ...

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First Published: Tue, September 12 2017. 12:08 IST
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