Search Result for : India Sugar Exports

The Dollar Business Bureau The Central government has allowed imports of 3 lakh metric tonnes of raw sugar at a concessional rate of 25% tariff duty. The sugar can be imported only through southern ports such as Tuticorin, Chennai in Tamilnadu, Karaikal in Puducherry, Mangalore in Karnataka, Kakinada, Vishakhapatnam and Gangavaram in Andhra Pradesh. According to the notification released by the DGFT No- 27/2015-2020 dated September 7, 2017, the validity of the tariff duty of 25% is for 60 days ie until the 1st week of November. The move to allow the imports of raw sugar by the government comes after sugar mills in Tamilnadu sought permission to import the commodity duty-free. Harvesting of sugar in the state has come down drastically due to ...

Abin Daya Sugar is becoming not so sweet for retail consumers, with prices rising fast in the domestic market. CPI inflation on sugar has remained in double digits for 10 months in a row now. The expectation for Feb 2016 is also not any different. In the global scene, while the prices may have dropped marginally during the recent months, they still remain high compared to the previous year levels. However, the recently published Trade Policy Agenda of the US Administration for 2017 hints at changes that might lead to concerns for India. The US is India’s largest export market at $40 bn worth of exports per year. Any event which changes Indo-US trade dynamics and affects this number will have a significant ...

The Dollar Business Bureau The prices of sugar are likely to remain under pressure due to the estimated gap of supply of about 3.5-4 million tonnes in the marketing year starting October, said Sharad Pawar, former Agriculture Minister. The Nationalist Congress Party supremo, Pawar, also asked the industry to brace up for government’s action, including likely import of raw sugar to meet the demands of domestic consumers and keep the prices in check. Pawar, while addressing the 74th annual convention of Sugar Technologists Association of India, stated that the gap in demand and supply may keep the prices under pressure. While sugar production this year was good, a similar situation is not visible for the marketing year 2016-2017, he added. Currently, the prices ...

Sharath Chowdary Sugar prices in India are likely to increase due to the shortage of stocks in the country. The drought condition in the main sugar producing states has resulted in less supply. If the monsoon is not proper this year, the sugar prices may rise by Rs.50-70 per quintal, Mukesh Kuvedia, Secretary General of Bombay Sugar Merchants Association told The Dollar Business Bureau. Explaining the reasons for low supply, he said, “Maharashtra, the biggest sugar producing state in India, has seen severe drought situation in its Vidarbha region. Due to this, the sugar production from the state has decreased to 80 lakh tonnes in 2015-16 sugar season when compared to 110 lakh tonnes in 2014-15 season. Similar situation was prevailing in ...

The Dollar Business Bureau The Government of India is likely to revoke its order on compulsory export of 3.2 million tonnes sugar this sugar season. It is also planning to reduce the import duty to keep the sugar prices under control. The government had asked sugar mills to export 3.2 million tonnes of export surplus stock, this marketing year in the Indian market. Till now only 1.4 million tonnes of sugar has been exported and by the end of the season it may reach 1.5 million tonnes as the exports have almost stopped. According to a source, the merchants are not exporting sugar due to the low prices in global market. In spite of the policy decision, the government needs to encourage ...

Sharath Chowdary   India is not only the second biggest producer of sugar but also one of the top sugar consumers in the world. With the increased prices in the country, the sugar merchants prefer selling in domestic markets rather than exporting to other countries, said experts from the industry. This is also because of the drought conditions prevailing in the country and low sugar prices globally. The government has set a target to export 32 lakh tonnes sugar in this sugar season (1 October 2015 to 30 September 2016). Due to less production and higher domestic prices, the sugar mills have exported only 15 lakh tonnes sugar till now in this sugar season, Sanjeev Babar, Managing Director of Maharashtra State Cooperative Sugar ...

The Dollar Business Bureau Indian sugar firms, under the preferential quota, exported 6,101 tonnes to the European Union and 8,071 tonnes to the United States of America (USA) till July, said Commerce and Industry Minister Nirmala Sitharaman. According to the Minister, companies that exported sugar under preferential quota during the sugar season 2014-15, included Pure Diets India, Suminter India Organics, Shree Renuka Sugars Ltd, among others. The Minister said that the government had amended the policy of export on preferential quota sugar to the EU and the US, under which, exports are permitted on low tariffs and post the quota limit, a higher tariff is applied on additional exports. The government’s decision to amend policy of export of preferential quota sugar was taken on account of liberalization of ...

 Sachin Manawaria | @TheDollarBiz There are indications that the Indian government may continue and increase the sugar export subsidy scheme in this sugar season (October – September) in some states like Uttar Pradesh, where millers have still not paid farmers for the last season. In an event last week, Ram Vilas Paswan, Food Minister, said that the government has not taken any decision on the renewal of the export subsidy scheme after it lapsed in September 2014. He added that the situation has improved but the government continues to monitor it closely and will appeal to millers to clear the remaining arrears closely. Sugar is an essential commodity under the Essential Commodities Act, 1955, in India and international ...