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EGoM meeting tomorrow on allowing more sugar export

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An Empowered Group of Ministers (EGoM), headed by Finance Minister Pranab Mukherjee, will meet tomorrow to decide on allowing an additional export of up to one million tonnes of sugar in the 2011-12 marketing year.

The government has allowed 2 million tonnes of sugar exports in the 2011-12 marketing year in two equal tranches, as the country’s sugar output is all set to exceed domestic consumption.

“The EGoM is scheduled for March 26. There are three-four proposals, including sugar exports, for discussion,” a source said.

Recently, Food Minister Mr K V Thomas had said that EGoM would soon take a call on permitting additional sugar exports.

Agriculture Minister Mr Sharad Pawar, too, had said there was a scope for additional 1 million tonnes of sugar exports.

Based on the inputs of Cane Commissioners of all sugar producing states, the food ministry recently revised upwards the sugar production estimates to about 25.2 million tonnes from the earlier projection of 24.6 million tonnes for this marketing year.

However, the industry has pegged the sugar output at 26 million tonnes in 2011-12 against 24.3 million tonnes in the previous year.

The annual domestic demand is projected at 22 million tonnes.

India, the world’s second-largest producer of sugar and biggest consumer, had exported 2.6 million tonnes of sugar in the previous marketing year.

(This article was published on March 25, 2012)
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