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 ...
Nothing sweet about governments support to sugar industry
Sai Nikesh | The Dollar Business Amidst surplus stocks, Indian sugar farmers started gearing up for the next season and Indian sugar industry is likely to witness further rise in exports in the coming season. Shipments are expected to reach 2 million Metric Tonnes (MT) during the 12 month-period starting from October 1 and the government has subsidised exports, keeping in view, the continuous decline in sugar prices since 2009. "However, this is not enough to meet real requirements of the domestic industry, which has been facing lot of issues due to piled-up stocks," says Sanjeev Babar, MD, Maharashtra State Co-Operative Sugar Factories Federation Ltd. Speaking to The Dollar Business, Sanjeev Babar raised various issues concerning domestic sugar industry, highlighting a ...
