According to Sonjoy Mohanty, DirectorGeneral, Indian Sugar Mills Association, The sugar sector is hoping that the government will permit the export of an additional 30 lakh tonnes (lt) of sugar (ISMA). As a result, he continued, domestic prices would remain stable, cane growers will receive payments on time, and inventory levels will decrease. The central government has approved exports of 60 lt of sugar during the 2022–2023 sugar season based on preliminary estimates of sugarcane production. By May 31, the shipments must be completed.
According to him, the ability of sugar mills to exchange their export quota for the domestic quota of any other mills within 60 days of the order’s issue will guarantee the liquidation of excess stock. Additionally, it will enable mills to make income, guaranteeing prompt payment of the cane price to farmers.
The industry group, ISMA, asked the government in a statement released on October 17 to permit the export of 90 lt in light of the anticipated total sugar supplies in the nation. The availability of approximately 275 lt of sugar for domestic consumption, along with approximately 50 lt for use in the manufacturing of ethanol, has been prioritized by the central government. This would leave an estimated 60 lt as of September 30, 2023.
The remaining amount of sugar produced by the nation’s sugar mills will be permitted for export. It has been determined to permit the export of 60 lt sugar since, at the beginning of the sugar season in 2022-23, preliminary estimates of sugarcane production will be available. The quantity of sugar exports that will be permitted may be reevaluated depending on the most recent estimates of sugarcane production, which will be routinely assessed.