Sugar Export Government may soon allow 12 lakh tonnes of additional sugar export

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Highlights

  • Central government may soon give approval for export of 12 lakh tonnes of additional sugar
  • Even after export, there will be a ‘closing stock’ of about 60-68 lakh tonnes.

Sugar Export: The central government may allow an additional 1.2 million tonnes of sugar export in view of the possibility of production exceeding the estimate in the current sugar season. This additional export quota will be over and above the 10 million tonnes sugar export allowed earlier for the current 2021-22 season. According to sources, the additional quota for sugar exports was approved in the recent meeting of a group of ministers. Notification in this regard will be issued soon. The Food Ministry, which acts as the nodal ministry for sugar production, is working out the modalities for allocating the additional quota.

About 60-68 lakh tonnes of ‘closing stock’ will be left after export

Sources said the country’s total sugar production is expected to rise by five lakh tonnes to 36 million tonnes in the 2021-22 season, which is higher than the previous estimate of 35.55 million tonnes. Even after exporting the additional quota of sugar, there will be a ‘closing stock’ of about 60-68 lakh tonnes left in the country. Sugar mills have so far exported 99.7 million tonnes of sugar to Nepal, Bangladesh, Sri Lanka, United Arab Emirates (UAE), Afghanistan, Indonesia, Somalia and other countries in the sugar season from October 2021 to September 2022.

Global demand for Indian sugar rises

Sources said that despite some recent improvement in the international market and fall in raw sugar prices, the global demand for Indian sugar has remained strong. Former Agriculture Minister Sharad Pawar had written to Prime Minister Narendra Modi last month requesting a relaxation of 10 lakh tonnes in the sugar export limit. He had said that the production of sugar is expected to be higher than the earlier estimates.

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