Savola Group at odds with local sugar producers over protectionist duties
Saudi Arabia’s Savola Group has found itself at odds with local sugar producers over whether the government should implement a 20% anti-dumping duty on imports of raw sugar. Local sugar producers and beet farmers, including El Nobaria for Sugar Refining head Hassan Kamel, say that the government had promised them it would enact protectionist duties and maintain a moratorium on imports of refined white sugar. These producers now allege that Savola, which is opposed to the 20% tariff, was promised at its meeting with Trade and Industry Minister Tarek Kabil and Supply Minister Ali El Moselhy that the tithe would not be put in place, according to Al Mal.
!_StoryHed! GASC sees “jump” in wheat tender offers
State grain buyer GASC received offers from 11 suppliers for its wheat tender yesterday, Reuters reports. The 11 offers are a “jump” from GASC’s previous tenders “when suppliers stayed away amid a simmering trade row over tough inspections.” This comes as GASC purchased 180k tonnes of Russian wheat, to be delivered between 5-15 November, Al Mal reports. GASC paid a little over USD 213 per tonne, which “shows a reduction in the premium the country is being forced to pay” following the problems with the poppy seed-containing Romanian and French shipments, according to AgriMoney. Russia’s relatively low prices “meant that they retained a large discount to offers from France and Romania.”