The export subsidies are designed to increase shipments from the world's second-biggest sugar producer and reduce their brimming inventories
Several incentives were linked with fulfilment of export quota
While a stronger rupee and lower crude price have hardened the overseas market, the decline in sugar prices from the peak has made exporting the commodity economically unviable
While the annual consumption is 25.5mt, the total output is estimated at 31.5 mt and 10 mt has been carried over
It said that the discussions were positive, and subject to Indian sugar industry meeting the quality standards and specifications prescribed by South Korea
India's export to China in 2017-18 amounted to $33 billion, while imports stood at $76.2 billion
Efforts are on to increase shipment to Bangladesh, China and Malaysia; the Middle East turns out to be the largest buyer so far
More Indian exports could weigh on global prices and trim the market share of rivals Brazil and Thailand, the world's top two sugar suppliers
While it expects that the industry may not fulfil its 5 mt export quota, as much as 3 mt could be exported
India will start the new season next month with carry forward stocks of between 10 million and 10.5 million tonnes
The latest notification from the ministry of food also said the actual export might be completed in the coming sugar season
Indonesia links sugar imports to lowering tariff on palm oil, China raises duty
Currently sugar is exported to China, Sri Lanka, Sudan, Somalia and Dubai, among other countries
India in March scrapped a 20 per cent export tax and made it compulsory for mills to export at least 2 million tonnes of sugar
Traders said abolition would help push out just 100,000-150,000 tonnes mostly to Bangladesh and Nepal as everywhere else global prices are weak
India is likely to produce a record 29.5 million tonnes of sugar in the 2017/18 season that ends on September 30
Global sugar prices have tumbled about 28 per cent in the past year on a global surplus as production is set to increase in Europe and India
Sri Lanka, which allows duty-free sugar imports from Pakistan, could also be keen to import white sugar from India
Food Min Proposed Perhaps for the first time an export duty of 25 per cent on sugar
Open to lower import duty