Sugar import hits $112 mln during July-Oct

Sugar import hits $112 mln during July-Oct

Updated at: 1924 PST, Friday, November 20, 2009 ISLAMABAD: Sugar imports worth of 112 million dollars have been carried out during the July to October in current financial. According to Federal institute of statistics 1 97,870 tonnes of sugar have been imported during the first four months of the current financial year, compared to 3.3 million dollars in the same period last year. Saeed Khan, Chairman Trading Corporation has stated that TCP will issue import tenders next month after analyzing international prices for sugar imports. Experts said that sugar production cost could reach as high as Rs48 to 50 a kilogram during this year’s sugar cane crushing. As a result, the commodity is likely to be available in the local market for Rs55 per Kg. This could raise the need to depend on expensive imported sugar to overcome shortage.