Imports are not competitive from any other origin at the current 50% import subsidy, the trader added.
Export prices for Pakistani low quality whites have dropped from around $360-$370/mt FOB Karachi to around $340-$350/mt Friday after an additional 1.5 million mt tranche of $102/mt subsidized exports was ratified by the Pakistani government on December 7.
The additional tranche was on top of 500,000 mt already allowed under the 2017-2018 season, taking the overall tally to 2 million mt in the current marketing year.
"By increasing [sugar] import duty from 50% to 75%-80%, India will make Pakistani offers uncompetitive even at the current low levels," a market source said.
Export prices for Pakistani low quality whites have dropped from around $360-$370/mt FOB Karachi to around $340-$350/mt Friday after an additional 1.5 million mt tranche of $102/mt subsidized exports was ratified by the Pakistani government on December 7.
The additional tranche was on top of 500,000 mt already allowed under the 2017-2018 season, taking the overall tally to 2 million mt in the current marketing year.
"By increasing [sugar] import duty from 50% to 75%-80%, India will make Pakistani offers uncompetitive even at the current low levels," a market source said.
