November 24, 2017, 10:49 pm
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Pakistan struggles to export sugar surplus as global prices plunge

KARACHI/MUMBAI- 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 last week and directed the Commerce Ministry and Sugar Advisory Board to work on ways to resolve “the issues and problems” affecting sugar, his office said in a statement. – Reuters 
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