Tariffs cut to zero under the ASEAN Trade in Goods Agreement (ATIGA) from January 1 this year has hit the sugar industry hard, according to local press reports.
British Sugar and NFU Sugar unveiled on 24th August one-year and three-year sugar beet contracts and prices from 2021.
The Covid-19 pandemic has scuppered plans to revitalize South Africa’s ailing sugar industry for the time being, reported Bloomberg.
The local sugar producer Compagnie Sucriere du Tchad (CST) is on the brink of collapse as it has not been able to sell its sugar for more than eight months due to smuggled sugar flooding the local market, according to a local press report.
The regional government launched a three-pronged, three-year action plan on 8th May to improve the efficiency of the Guangxi sugar industry, according to local press reports.
Politicians close to Prime Minister Imran Khan have been linked to the soaring sugar prices, according to a government report.
Pakistan – Punjab government proposes stiff penalties for millers straying from their obligations [Registered]
Amidst sugar shortage, hoarding, high sugar prices in the domestic market and millers complaining of high cane prices and with it shutting down their factories, the Punjab government has intervened by declaring all illegal activities carried out within the industry as “non-bailable crimes” proposing stiff penalties, according to the local press Tribune.
Sugar millers in Pakistan have joined hands and closed their production units in an apparent attempt to push down prices of sugarcane, which have gone above the support price, breaching the production cost of sugar, according to local press reports.
The suspension of sugar imports that commenced on 9th September has had the desired impact of revitalising the local sugar market.