New Delhi, 6 November: Based on the preliminary estimates of sugarcane production, the Government of India has allowed export of sugar up to 60 LMT during the sugar season 2022-23. This is another measure of the government to stabilise the sugar price in the country and balance the financial position of the sugar mills in the country.
The Ministry of Consumer Affairs, Food and Public Distribution informed on Sunday that the DGFT has already notified sugar exports to be included under the ‘restricted’ category by October 31, 2023.
The central government has prioritised availability of about 275 lakh metric tonnes (LMT) of sugar for domestic consumption, about 50 LMT of sugar for ethanol production and keeping a closing balance of about 60 LMT by September 30 next year. The remaining quantity of sugar produced by sugar mills in the country will be allowed for export.
The government has asked sugar mills to export fast to make quick payments to farmers. This will reduce the operational cost of sugar mills such as storage cost and working capital cost.
