Saturday, June 25th, 2022 20:11:54

Government decides to allow exports of sugar upto 100 Lakh Metric

Updated: May 25, 2022 6:04 pm

The government has decided to allow export of sugar up to 100 Lakh Metric Tonnes with a view to maintain the domestic availability and price stability during the sugar season 2021-22. As per the order issued by Directorate General of Foreign Trade, with effect from 1st June till 31st October this year or till further order, whichever is earlier, the export of the sugar will be allowed with specific permission of the Directorate of Sugar, Department of Food and Public Distribution.  The decision came in the light of record exports of the sugar. In sugar season 2020-21 against target of 60 LMT, about 70 LMT have been exported. In the current sugar season 2021-22, contracts for export of about 90 LMT have been signed, about 82 LMT of sugar has been dispatched from sugar mills for export and around 78 LMT have been exported. Export of sugar in current sugar season 2021-22 is historically highest.

The decision will ensure that the closing stock of sugar at the end of sugar season remains 60 to 65 LMT which is 2 to 3 months of stocks required for domestic use. Crushing in new season starts in last week of October in Karnataka and in last week of October to November in Maharashtra and in November in Uttar Pradesh.

The government has decided to regulate sugar exports from 1st June taking into consideration the unprecedented growth in exports of sugar and the need to maintain sufficient stock of sugar in the country as well as to safeguard interests of the common citizens by keeping prices of sugar under check.

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