Artist Dagmawit speaks about the things that happened


Ethiopian Artist Dagmawit speaks about the things that happened. Regularly the corporation is engaged in importing the product in a competitive bid to fill the market gap that could not be attained by local production. As far as the budget year that will come to an end in five weeks' time is concerned, it will not see the Industry Group buying the product despite floating the bid on multiple occasions.

The latest move of India, which is the second supplier of sugar after Brazil, to limit its export until the coming production season is expressed by experts to have a ripple effect on the price increase in the product. The country annually imports up to 350,000 metric tons of sugar to address the gap. For the budget year, SC targeted to produce 413,000 metric tons.

Sugar Industry Group said that in the budget year the corporation planned to supply about 720,000 metric tons of sugar for consumption. The sugar demand has been growing from time to time and it is estimated that the country’s annual sugar demand stands at 1.2 million metric tons. Thus the remaining gap is covered by other importers who have a special permit from the government and those who have franco-valuta privileges.

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