Sugar exports still low despite surplus stock
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 ...
Sugar exports still low despite surplus stock
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 ...
Surplus stock gives sugar producers a pinch of salt; exports only option
Himanshu Vatsa | The Dollar Business With the next harvesting season of sugarcane approaching, the stockpiling of surplus sugar from the past season has become a major concern for the industry. According to sugar millers, exporting the sweetener is the only option to get rid of more than 10 million tonnes of surplus stock across the country. Even though the government in March announced export subsidy of Rs 4000 per tonnes, the industry demands additional benefits for overseas shipment. “The government announced export subsidy in March when 70% of the country’s production was over. What is the use of this subsidy when we are still not sure whether the scheme will continue or not,” Sanjeev Babar, Managing Director of Maharashtra State Cooperative ...
Government softens norms for sugar exports to EU, US
The Dollar Business Bureau Now all sugar exporters will be allowed to sale certain amount of the sweetener under preferential quota to European Union (EU) countries and the United States (US). Liberalising norms for international traders, the government on Tuesday extended the benefits of preferential quota exports to the entire Sugar Industry. So far, the benefit was meant for only state trading enterprises (STE). The preferential quota sugar to EU was being exported through STE subject to quantitative ceiling notified by the Directorate General of Foreign Trade (DGFT). “The government has now decided to liberalise the export policy in respect of export of preferential quota sugar to EU from ‘STE’ to ‘Free’ regime,” the Ministry of Commerce and Industry ...
Government incentives to boost sugar exports
Sai Nikesh D | The Dollar Business The Government of India, in a move to improve the financial health of the Indian sugar sector, has taken steps to provide the incentives to the export of raw sugar, besides providing interest free loans for liquidation of the cane dues. According to the Indian Sugar Mills Association(ISMA) report, the government on Thursday has cleared a subsidy of Rs 4,000 a tonne to sugar mills for exports of up to 1.4 Million Tonnes(MT) of raw sugar in the 2014-15 crop year, that began last October and will last till September. Welcoming the move, the ISMA said, “Sugar mills will need to gear up to produce the 1.4 MT of raw sugar in ...
India may extend sugar export subsidies for select states
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 ...
