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Experts have mixed reactions on whether the budget will meet IMF requirements and the impact on the economy. The ‘No new Taxes on Industry’ claim is belied by increase in super tax and that too in not a fully progressive way. Will retailers and the agri sectors that together contribute 40% contribute more than 2% as a result of the budget? SHAHBAZ ASHRAF, CHIEF INVESTMENT OFFICER AT FRIM VENTURES“It is surely not a budget that the IMF would approve of. "The regional energy price budget, which has built in cross subsidies, general collection and distribution losses is something the export industry cannot sustain."

Persons: GHIAS KHAN, EHSAN MALIK, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, ABDUL ALEEM, IRFAN IQBAL SHEIKH, MUSTAFA PASHA, SHAHBAZ ASHRAF, they've, There's, ” FAHAD RAUF, ISMAIL IQBAL, GOHAR EJAZ, Ariba Shahid, Jonathan Oatis, Nick Zieminski Organizations: International Monetary Fund, IMF, Pakistan, Reuters, FX, ENGRO CORP, OF, PAKISTAN BUSINESS, Industry, PAKISTAN, Company, FEDERATION OF PAKISTAN, OF COMMERCE, PKR, IN, MILLS ASSOCIATION, Thomson Locations: KARACHI, Pakistan, PAKISTAN, Karachi

☆ Exclusive: Indian sugar mills to close early as rain hits cane supply - govt official
▼ + stars: | 2023-01-27 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +3 min

India has allowed sugar mills to export only 6.1 million tonnes of the sweetener in the current season and, out of that, mills have already contracted to export 5.7 million tonnes. Sugar mills in Maharashtra were operational until mid-June in 2021/22 as they were struggling to harvest a record crop. LOWER EXPORTSIn 2021/22 Maharashtra produced a record 13.7 million tonnes, higher than the initial estimate of 11.2 million tonnes, allowing New Delhi to export a record 11.2 million tonnes. As the sugar exports quota was nearly exhausted, the Indian Sugar Mills Association and other trade bodies were requesting the government to allow additional exports of up to 4 million tonnes. India mainly exports sugar to Indonesia, Bangladesh, Malaysia, Sudan, Somalia and the United Arab Emirates.

India, also the world's biggest sugar consumer, this year restricted exports through to the end of this month to contain a rise in domestic prices following record exports. India is expected to allow about 3 million tonnes of sugar exports in the second tranche, taking this year's total overseas shipments of sugar to about 8 million tonnes. According to the Indian Sugar Mills Association, a producers' group, India could export up to 9 million tonnes of sugar in the 2022-23 season. Cashing in on attractive global prices traders have already started signing deals to export raw sugar for this season. After diverting about 4.5 million tonnes of sugar for ethanol production, India is expected to produce about 36.5 million tonnes of the sweetener in the 2022-23 season, up 2% from the previous season.

☆ As war, drought hit global crops, Argentina gambles on GM wheat
▼ + stars: | 2022-09-20 | by ( Maximilian Heath | ) www.reuters.com time to read: +9 min

It was the first GM wheat strain in the world to receive such approval. No other global seed company has publicly endeavored to develop GM wheat since 2004, when giant seed maker Monsanto, now owned by Bayer AG, dropped plans to develop GM wheat that could withstand its weed killer Roundup. In 2020 he had threatened to halt wheat imports from Argentina after its government approved Bioceres' GM wheat. A new landmark is the recent approval in Nigeria, the only country to fully approve imports of HB4 wheat grains. Trucco said Russia's invasion of Ukraine and severe droughts in Europe and China had shifted the needle on drought-tolerant GM wheat.

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