The Hindu Business Line : Raw sugar exports also eligible for subsidy

New Delhi May 17 Raw sugar exports are also eligible to the Rs 1,350 a quintal export subsidy announced by the Centre as part of its package to help the industry.

Official sources told Business Line on Thursday that the Centre's notification had not excluded raw sugar from the purview of subsidy but a lot of clarifications were being sought.

According to industry sources, the notification had not made it clear if raw sugar exports were eligible for the subsidy. A section of the industry feels it was implied in the notification but the subsidy in itself had come late.

The subsidy covers transportation, while the Centre as part of its package has also announced the creation of a 20-lakh tonne buffer stock. The package was announced as the sugar industry has been hit by production glut and falling prices.

Physical exports

Meanwhile, official sources said so far, release orders had been given for export of 15.5 lakh tonnes of sugar. Of this 11 lakh tonnes will be under open general licence and the rest under advance licence against import of raw sugar.

Totally, seven lakh tonnes of sugar have been exported with 4.5 lakh tonnes under open general licences and the rest under advance licence.

The Centre had banned sugar exports to curb inflation in July last. However, falling prices and projections of record sugar production led to lifting of ban under advance licence on January 3. Exports under open general licence were subsequently permitted from January 23.

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