Business Daily from THE HINDU group of publications
Friday, Jul 27, 2007
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Business Daily from THE HINDU group of publications Friday, Jul 27, 2007 ePaper |
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Sugar Agri-Biz & Commodities - Agricultural Policy Industry & Economy - Exports & Imports Scrapping of sugar exports release order upsets industry
Our Bureau Chennai, July 26 Sugar exporters need not get release orders from the Centre anymore to ship consignments abroad. A notification to this effect has been issued but the sugar industry feels it will have an adverse impact. According to sources, sugar mills now need to only report on the volume of sugar exported and the allocation made to individual mills for sale of sugar in the open market will not be cut. Mandatory
The Centre made it mandatory for sugar mills to get release orders for exports five years ago. “Then, some of the fly-by-night operators bought sugar from the mills at lower prices saying it was for exports and dumped them in the domestic market at higher prices. It led to excess supply in the market and prices declined, forcing the Centre to clamp the release order,” the sources said. “Scrapping of the release order could have a negative effect in the sugar market,” they added.
Related Stories: More Stories on : Sugar | Agricultural Policy | Exports & Imports
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