Mar 25 - 31, 2002
Molasses export earns $30m
Around 600,000 tons of molasses export during
current sugarcane crushing season has fetched around $30 million at an
average price of $50 per ton, exporters said.
The country is expected to produce around 1.5
million tons molasses during current sugarcane crushing season, which
would earn around $75 million. The bulk of molasses quantity is
exported to European countries where it is processed and up-graded to
make it usable for industrial purposes, including alcohol and in some
Due to poor harvest of sugarcane crop the country
for the last two consecutive years has produced around 1.5 million
tons as against 2 to 2.2 million tons it used to produce.
The sugar mills generally do not have proper
storage system of molasses and normally they fill open pits in the
ground which are exposed to atmospheric changes as well as dirt.
Consequently, most of the leading exporters have already purchased
huge quantity of molasses, which is reported to be in the range of
400,000 to 500,000 tons and have stored it in tanks at Keamari.
With crushing season almost over in the province of
Sindh the flow of molasses is reported to have declined considerably.
However, in Punjab where crop size is 20 to 25 per cent larger than
Sindh and crushing season also starts late most of sugar mills are
Exporters expect that around 0.5 million tons of
molasses was still lying with sugar mills in Punjab and Sindh but with
weekly export of around 50,000 tons they expect to handle the entire
exportable quantity within next three to four months.
According to sugar technologists the absence of
downstream industries in sugar sector is one of the main factors of
its being inefficient and cost ineffective. In countries like Brazil
the sugar industry is involved in production of other industrial as
well as edible products which they make out of molasses, but in
Pakistan it is being exported at a throw away prices.
Surplus wheat export
A three-pronged strategy has been evolved by the
government for the export of surplus wheat in a shortest possible time
so that sufficient storage space is created before the arrival of new
crop, official sources said.
Besides the Trading Corporation of Pakistan (TCP),
the Pakistan Storage and Supplies Corporation (Passco) and Ministry of
Food, Agriculture and Livestock (Minfal) have been asked to make
arrangement for export of wheat out of their stocks.
6.63pc rise in crude oil import
Pakistan imported nearly 4.86 million tons of
petroleum crude during the period July-February 2001-02 — 6.63 per
cent more than the same period of previous year.
In spite of the quantitative increase in import of
the important energy source, according to an official source, its
share in total import bill ($7.19 billion) declined from 12.84 per
cent during the July-February 2000-01 to 12.50 per cent in the current
This was because of a sharp 17.92 per cent drop in
the import price of crude. During the previous year, it was imported
at the average rate of $202.78 per ton. This year, its price averaged
about 36 dollars lower at $166.45 per ton.
Tin plate dumping
The National Tariff Commission (NTC) has issued a
notice of investigation into a complaint that South African exporters
of tin plate of a certain specification are marketing the product in
Pakistan at rates amounting to dumping , according to an official
The purpose of the investigation, as provided in
Anti-dumping Duties Ordinance 2000, is to determine the normal value
of the product in the domestic market of the exporting country. If it
is found that there had been an attempt to dump the product, the
commission would analyse the data and determine the level of tariff to
be levied thereon on the basis thereof.
Indonesia seeks Joint ventures
Jack Saeed Ghafar, Ambassador of Indonesia to
Pakistan, has said that there are bright opportunities of setting up
joint ventures between the two countries in different trade fields.
He stated this while addressing a joint meeting of
local traders, industrialists and exporters, at Sialkot Chamber of
Commerce and Industry (SCCI), on Tuesday. He also visited various
industrial units in Sambrial, Daska and Sialkot city.
The local pharmaceutical industry is, apparently,
losing initiative to enhance its market share in Afghanistan due to
policy curbs applied by the anti-Pakistan elements in the interim
Afghan set-up, according to trade and business circles.
S. Arabia, UAE may lift ban
Saudi Arabia and the United Arab Emirates (UAE) may
lift ban, imposed two years ago, on meat imports from Pakistan,
official sources said on Friday.
The ban caused an annual loss of $45 million to the
country, in foreign exchange.
After a recent visit of a Saudi technical team,
presently a three-member UAE delegation is on a week-long inspection
of slaughterhouses in Pakistan.
ATT import value up
The import value of the Afghan Transit Trade (ATT)
surged by 104.74 per cent to Rs1,471.54 million during the month of
February of the current financial year against Rs718.732 million
during the same month of the last year.
On the other hand the total value of ATT fell by
10.37 per cent during the July-February period of the current
financial year in comparison to the same period last year.
The import value of ATT fell by 28.03 per cent in
January and 22.66 per cent in July-Jan period of the current financial
over the corresponding period of the last year.