960408

First shipment of

12,500 tonnes fo sugar

on 17th

ANWAR RAJANI

KARACHI: All speculation about the much talked of import of sugar came to an end on Monday when two shipments were booked by the Trading Corporation of Pakistan (TCP), which are expected to arrive here within a couple of months.

The shipments, each of 12,500 tons, will be made from a port on Black Sea. The first shipment will take place on April 27 and the second on May 10. The name of the port of origin will be known after the Letter of Credit (LC) is established within a couple of days.

The commodity is of Brazilian origin and the suppliers are based at Brussels. Booking has been made at the rate of 347 dollars per ton.

TCP sources said that the landed cost of this sugar would come to about Rs 15 per kg. Negotiations with other suppliers are going on and the TCP is expected to import about one lakh tons more very soon.

Foreign exchange is being provided to the TCP by the government.

According to market sources, the prices will come down with the arrival of the imported sugar. In retail, the commodity is selling at about Rs 20 per kg at present which has smashed all records of price hike in Pakistan.

It is reported that the ex-mill price or sugar has come down by 50 paisa per kg. But it has had no effect on the market.

At present, about 14 lakh tons of sugar is available in the country but the prices are not coming down. Mill-owners and wholesalers are blaming the retailers for squeezing the consumers.

Sources said that the prices can be maintained at a reasonable level after two lakh tons are imported during the current season.