Sugar Exports

Sugar getting even pricier now poses new threat to global food inflation

Prices of refined sugar surged to the highest in more than a decade this week, while the raw variety is near to the costliest in over six years

More sugar exports possible if domestic output reaches as estimated: Govt

India has a cushion to export additional 1 million tonnes of sugar this year if the domestic output reaches the estimated 33.6 million tonnes, a senior food ministry official said on Monday. Sugar availability is comfortable in the country even as the total sugar production is pegged lower at 33.6 million tonnes in the ongoing 2022-23 marketing year (October-September), he said. Sugar production stood at 35.9 million tonnes in the 2021-22 marketing year. "Next month, we will get concrete data of sugar production and then we will take a call on further sugar exports, " Additional Secretary in the food ministry Subhod Kumar told reporters. Sugar production has reached 24.7 million tonnes till February of the ongoing 2022-23 marketing year, he said. "More exports are possible and we have a cushion for exports of additional one million tonnes, suppose the overall production reaches the estimated 33.6 million tonnes this year," the official said. The government has allowed export of 6

No proposal to increase sugar export quota from 6 mn tonnes: Food Secy

The government is not considering any proposal as of now to increase the sugar export quota from the present 60 lakh tonnes for this marketing year ending September, Union Food Secretary Sanjeev Chopra said. The food ministry has allowed 60 lakh tonnes of sugar exports for the current 2022-23 marketing year (October-September). The country had exported around 110 lakh tonnes, an all-time high, of sugar in the 2021-22 marketing year. "The sugar production is going down by about 9 lakh tonnes, that is our estimate from the previous year. So keeping that in view, as of now there is no proposal to increase the export quota," Chopra said on the sidelines of an event on Thursday late evening. When asked that the ministry was to assess domestic production this month before deciding on further exports of sweetener, he said, "The production figures have come down. We have to see this buffer stock requirement first. And once that is met, then only we can take a call." The secretary asserted

India won't allow new sugar exports to prevent domestic shortages

India, which vies with Brazil as the world's biggest sugar producer, will not allow any more exports for now on concern that weaker production will threaten domestic supplies

Govt to raise sugar export quota in March after assessing output estimate

The government will take a call next month on increasing the sugar export quota from the present 60 lakh tonnes for the current marketing year after assessing the domestic production, Food Secretary Sanjeev Chopra said on Wednesday. The food ministry has allowed 60 lakh tonnes of sugar exports for the current 2022-23 marketing year (October-September), which is expected to see a drop in the sugar production. India exported a record 110 lakh tonnes of sugar in the previous year. "We have not yet taken a call. we are closely monitoring the production and we would take a call may be in March depending on what the final figures of anticipated production are," Chopra told reporters here when asked whether the government will hike the sugar export quota. He said the sugar production is estimated to be lower in the 2022-23 marketing year because of bad weather in some producing states. Recently, Indian Sugar Mills Association (ISMA) said that sugar production is estimated to fall 5 per ce

Need a balanced approach

Sugar sector's success has environmental risks

India likely to keep lid on sugar exports as output dips: Reports

India is not looking at allowing more sugar exports, government and industry officials said on Thursday

Govt to take call on increasing sugar export quota next month: Food Secy

Over 1,000 crore litres of ethanol would be required to achieve 20 per cent blending of ethanol with petrol, he said, adding that out of that around 50 per cent will come from sugarcane

Sugar mills enter into contract to export 5.5 mn tonne of sweetener

Sugar mills have entered into contracts to export 55 lacs tons of sweetener so far in current marketing year ending September and out of that, according to industry body ISMA

Sugar stocks sweeten in weak market on hopes of higher export limit

Rajshree Sugars, Ugar Sugar Works, Simbhaoli Sugars, Sakthi Sugars and Bajaj Hindustan have zoomed in the range of 10 per cent to 19 per cent in intra-day trades so far.

Sugar output likely to drop 7% amid erratic weather, could crimp exports

Lower sugar exports from India, also the world's second biggest exporter, could lift global prices and allow rivals Brazil and Thailand to increase their shipments

Export quota hike may trigger up to 33% rally in these 3 sugar stocks

Among individual stocks, Shree Renuka Sugars, Ugar Sugar and EID Parry have zoomed up to 169 per cent so far in 2022. Charts indicate further upside for these select stocks.

India enters into deal for export of 3.5 MT sugar so far in 2022-23: ISMA

India has entered into a contract for export of about 35 lakh tonnes of sugar so far in the ongoing 2022-23 season, out of which 2,00,000 tonnes have been shipped last month, industry body ISMA said on Thursday. The 2022-23 sugar export policy announced on November 5 allowed exports of 60 lakh tonnes of the sweetener on a quota-basis till May 31. Further quantities for export would be allowed after assessing the domestic production. Sugar season begins from October to September. According to Indian Sugar Mills Association (ISMA), "As per port information and market reports, about 35 lakh tonnes of contracts for export of sugar have already been entered into so far." Out of this, about 2,00,000 tonnes sugar have been physically exported out of the country in October, when compared to about 4,00,000 tonnes in the corresponding month last year, it said in a statement. ISMA noted several traders entered into export contracts for the 2022-23 season much before the export policy was ...

India notifies 8,606 tonnes of raw cane sugar exports to US under TRQ

The government on Wednesday notified exports of 8,606 tonnes of raw cane sugar under the tariff-rate quota (TRQ) scheme to the US. Shipments under the TRQ enjoy relatively low customs duty. After the quota is reached, a higher tariff applies on additional imports. "The quantity of 5841 MT (raw/refined) sugar to be exported to EU and quantity of 8606 MTRV raw cane sugar to be exported to USA under TRQ scheme from October 1, 2022, to September 30, 2023 has been notified," the Directorate General of Foreign Trade (DGFT) said in a public notice. India, the world's second biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well. The DGFT said that the quota will be operated by APEDA.

Sugar stocks in focus; Balrampur Chini gains 3% as share buyback commences

The board of directors of Balrampur Chini on November 9 had approved Rs 145.44 crore share buyback at Rs 360 per share through the open market route.

Sugar mills clinch export deals within days of govt approval, says dealers

The quick shipments from the world's biggest producer of the sweetener and its second biggest exporter, could weigh on global prices, but help Indian mills in liquidating stockpiles quickly

Sugar mills clinch export deals within days of govt's approval, say dealers

India's approval came late on Saturday for the export of 6 million tonnes of sugar in the 2022/2023 marketing year that started on Oct 1

Govt asks sugar mills to export speedily to make early payment to farmers

"The Directorate General of Foreign Trade (DGFT) has already notified to extend the inclusion of sugar exports under the 'Restricted' category up to October 31, 2023," the ministry said.

Govt resumes sugar exports; allows 6 mn tonnes on quota basis till May 31

The south Asian country is the world's biggest producer of sugar and the second biggest exporter of the sweetener

Best of BS Opinion: Protecting competition, the overvalued rupee, and more

Here is the best of Business Standard's opinion pieces for today