Government rejects sugar export requests for 2023-24 season

The Union government has dismissed the possibility of permitting sugar exports for the current season, defying persistent demands from the industry. Despite requests from the Indian Sugar Mills Association (ISMA) to allow exports of 10 lakh tonnes of sugar, the government has maintained curbs on sugar exports for an indefinite period.According to a senior food ministry official speaking to PTI, the government is currently not considering sugar exports, despite the industry's appeals. This decision comes even as the industry anticipates a healthy closing stock by the end of the season.As per recent data, India's sugar production has exceeded 30 million tonnes until March of the ongoing 2023-24 season. ISMA has revised its net sugar production estimate for the season to 32 million tonnes, while the government has projected sugar output to range between 31.5-32 million tonnes.Despite the government's stance on sugar exports, there are considerations to allow sugar mills to utilize excess stock of B-heavy molasses for ethanol production this year. This move underscores the government's efforts to address surplus sugar stocks and promote alternative uses for sugarcane by-products.The government's decision to reject sugar export requests reflects its cautious approach to managing domestic sugar supplies and balancing the interests of various stakeholders in the sugar industry. While the industry continues to advocate for export opportunities to alleviate surplus stocks, the government's focus remains on ensuring stability and sustainability within the sugar market.(With PTI inputs)

Advertisement

Government rejects sugar export requests for 2023-24 season

ISMA has revised its sugar production estimate for season to 32 million tonnes, while government has projected sugar output to range in 31.5-32 million tonnes.

Advertisement