Govt likely to notify 1.2 MT of additional sugar exports this season

The Centre is likely to allow an additional 1.2 million tonnes (MT) of sugar exports in the current season ending September 2022, according to government sources

sugar
Press Trust of India New Delhi
2 min read Last Updated : Jul 31 2022 | 11:58 AM IST

The Centre is likely to allow an additional 1.2 million tonnes (MT) of sugar exports in the current season ending September 2022 taking into account higher-than-anticipated domestic production, according to government sources.

This additional quota would be over and above 10 MT of sugar exports allowed for the current 2021-22 season.

Sources said a group of ministers approved the additional quota of sugar exports in a recent meeting. A notification in this regard will be issued soon.

The nodal Food Ministry is working on modalities to allocate the additional quota. The country's total sugar production is expected to increase by 5,00,000 tonnes to 36 million tonnes in the 2021-22 season, compared to the earlier estimate of 35.5 million tonnes, the sources added.

Even after the export of an additional quota of sugar, the country would be left with around 6-6.8 MT of closing stocks.

Mills have exported 9.97 MT of sugar so far in the ongoing 2021-22 season to countries such as Nepal, Bangladesh, Sri Lanka, UAE, Afghanistan, Indonesia, Somalia and others.

Sources also mentioned that there is global demand for Indian sugar even as the international market has seen some correction recently and raw sugar prices have fallen.

Last month, the Nationalist Congress Party chief and former Union agriculture minister Sharad Pawar had written a letter to Prime Minister Narendra Modi asking for relaxation in the cap on overseas shipments by 1 million tonnes as production was expected to be higher than earlier estimates.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Sugar exportsindian governmentsugar production

First Published: Jul 31 2022 | 11:58 AM IST

Next Story