In November, the government allowed the export of 60 lakh tonne of sugar for the 2022-23 marketing year (October-September). India exported a record 111 lakh tonne of sugar in the 2021-22 marketing year.
Last Week, Food Secretary Sanjeev Chopra said the ministry will assess the domestic production of sugar in January before considering a hike in the quota. The food secretary was speaking on the sidelines of the Annual General Meeting (AGM) of industry body ISMA.
Sugar, , and Simbhaoli also surged over 5% in today’s trade.
Indian Sugar Mills Association (ISMA) President Aditya Jhunjhunwala was hopeful that the government would increase the export quota from the current 60 lakh tonne.
“We are grateful that exports are allowed with the option provided to sugar mills to exchange their export quota with domestic sugar sale quota,” the president said.
This is much on the lines of the request made by ISMA and equitable to all sugar mills, he added.
As per ISMA’s estimates, the total production is expected to be the highest ever at 410 lakh tonne (before diversion for ethanol) in the 2022-23 marketing year. Sugar diversion towards the production of ethanol is estimated to be at 45 lakh tonne in the current marketing year.
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