Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Trading firms may supply Indian sugar to Pakistan
08-12-2010, 11:57 AM
Post: #1
Trading firms may supply Indian sugar to Pakistan
NEW DELHI: India may export 320,000 tonnes of sugar to Pakistan, its first shipment to the neighbouring country in two years as local output is set to jump after higher cane planting and adequate monsoon rains.
Two sources familiar with the deal told Reuters on Monday that India may supply the white sugar to trading firms, which are selling the sweetener to Pakistan.
India, the world’s top sugar consumer and the biggest producer behind Brazil, is expecting a rebound in local output, which will encourage to export after importing large quantities last year.
Last week Pakistan awarded contracts to import 320,000 tonnes of white sugar from Singapore's Agrocorp International and Dubai's Sucden Middle East.
Supplying Indian sugar will be very attractive for the companies,” an official with a Mumbai-based trading firm, told Reuters.
Traders in Karachi also said Indian sugar was likely to be shipped to Pakistan.
“The news on the street is that the sugar - 250,000 tonnes from Agrocorp and 70,000 tonnes from Sucden - will originate from India,” said a Karachi-based trader, familiar with the tendering process, who declined to be identified.
India last year imported large quantities of sugar, contributing to a surge in New York raw sugar futures to the highest level in 29 years in February. The country was expected to resume exports only in the new sugar season that starts in October.
Traders said India’s export of sugar to Pakistan would be bearish for the market.
“If it is coming from India, then that is opening up a potential new avenue for imports other than from Brazil,” said Nick Penney, a sugar futures broker with Sucden Financial Sugar in London.
If the origin of the latest sugar for Pakistan is the silo at the Dubai Al Khaleej refinery, however, this would be market-neutral, dealers said. London October white sugar was up $0.20 at $540.00 per tonne.
Traders say India had last exported about 70,000 tonnes of sugar to Pakistan in the 2007/08 season.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  SBP Introduces FX Matching Platform to Enhance Interbank Forex Trading LRE-Azan 0 125 01-25-2024 03:32 PM
Last Post: LRE-Azan
  Interest from 21 Construction Firms for Margalla Avenue-M1 Link Project LRE-Azan 0 304 11-01-2023 06:02 PM
Last Post: LRE-Azan
  300MW Plant In Gwadar will supply Free Electricity To Aarea issued LRE-Azan 0 4,891 01-17-2018 05:05 PM
Last Post: LRE-Azan
  Five firms pre-qualify for metro bus service project Salman 0 6,168 02-10-2014 02:49 PM
Last Post: Salman
  Chinese firms willing to invest in Pakistan Salman 0 4,719 12-07-2012 12:31 PM
Last Post: Salman
  Indian PM’s offer to supply 5,000MWIndian PM’s offer to supply 5,000MW Salman 0 4,029 03-31-2012 01:45 PM
Last Post: Salman
  Islamabad Property news :Firms fail to design Park Enclave Salman 0 4,579 03-29-2012 12:31 PM
Last Post: Salman
  CDA to acquire land for water supply project Lahore_Real_Estate 0 3,917 02-27-2012 12:20 PM
Last Post: Lahore_Real_Estate
  Pak 2nd trading partner of Lanka in SAARC region Salman 0 3,438 12-26-2011 11:52 AM
Last Post: Salman
  Pakistan seeks to lift ban on Indian investment Lahore_Real_Estate 0 3,513 08-08-2011 02:32 PM
Last Post: Lahore_Real_Estate
  indian water Aggression and InActive/Silent Pakistan! LRE 0 3,757 03-13-2011 06:24 PM
Last Post: LRE
  Five-day weekly gas supply to Faisalabad from today Lahore_Real_Estate 0 3,304 03-04-2011 05:12 PM
Last Post: Lahore_Real_Estate
  Huge quantity of sugar going waste in warehouses Lahore_Real_Estate 0 3,258 12-18-2010 03:10 PM
Last Post: Lahore_Real_Estate
  SECP registered 8 firms in November Lahore_Real_Estate 0 3,278 12-18-2010 03:08 PM
Last Post: Lahore_Real_Estate
  indian extremists, indian army & WikiLeaks LRE 1 6,087 12-17-2010 06:44 PM
Last Post: LRE
  Gas supply to Punjab industry suspended Lahore_Real_Estate 0 3,860 12-13-2010 01:31 PM
Last Post: Lahore_Real_Estate
  Sugar worth millions of rupees recovered Lahore_Real_Estate 0 3,661 12-13-2010 01:24 PM
Last Post: Lahore_Real_Estate
  Punjab govt fixes sugar price at Rs 72 per kg Lahore_Real_Estate 0 3,654 11-13-2010 01:33 PM
Last Post: Lahore_Real_Estate
  Millers, wholesalers to determine sugar price Lahore_Real_Estate 0 3,340 11-10-2010 02:23 PM
Last Post: Lahore_Real_Estate
  Stories of Sugar Fraud (Rauf Klasra) LRE 3 9,561 11-10-2010 10:56 AM
Last Post: LRE

Forum Jump:


User(s) browsing this thread: 1 Guest(s)