Agri Business

Plea to allow 1 mt sugar exports immediately

Vishwanath Kulkarni New Delhi | Updated on November 02, 2011

The National Federation of Co-operative Sugar Factories Ltd (NFCSF) has demanded that the Government allow export of one million tonne sugar immediately and a similar quantum every month till March 2012.

Such a move would help the sugar factories take advantage of the prevailing high export prices and make timely payment to farmers in the new crushing season starting October 2011, said Mr Vinay Kumar, Managing Director, NFCSF.

The Federation estimates that India would be left with a surplus of 4 mt by the end of current sugar season in September 2012. Sugar production is estimated to be over 25 mt in the current year.

“Allowing exports of one mt a month would not hamper both domestic and global prices,” Mr Vinay Kumar said adding that exporters get a premium of Rs 5 per kg in the international market.

The Empowered Group of Ministers may decide on the quantum of exports soon.

In 2010-11, the Government had allowed exports of 2.6 mt that included 1.5 mt in three equal tranches under the Open General Licence (OGL). The remaining 1.1 mt was pending export obligation on part of the mills under the Advance Licence Scheme.

Published on November 02, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like