The government is likely to give export exemption of 40 to 50 million tonnes in the first phase.
The new sugar season is approaching and the sugar mills are keeping a close eye on the government’s policy fixed for the upcoming season. Sources said that the central government is likely to announce the export policy of sugar for the new season soon and the government is expected to give vacuum exemption in two phases.
The Government of India is likely to allow exports keeping a balance between the interests of the customers and the farmers. After the announcement of the export quota by the Government of India, the global price is also likely to decline.
National Federation of Cooperative Sugar Factory’s Managing Director Prakash Naiknavar said that the government is likely to announce the export quota or export policy for the coming season in the month of September. The new season starts on 1st October.
A high official said that in the upcoming season by the Government of India there is a possibility of clearing the export of 70 to 80 million tonnes of sugar. Unlike last year, the central government is likely to give export exemption of sugar in two phases in the current year. In the first phase, the government is likely to give export exemption of 40 to 50 million tonnes of sugar, while the rest is expected to be exempted by reviewing the price from time to time.
The central government had given export exemption of a total of 112 million tonnes of sugar in the previous season. After the record exports by the sugar mills, the government banned the export to stop the boom of sugar prices in the country.
There is also a possibility of giving export exemption by the central government after the completion of the Ganesh festival keeping in mind the upcoming festivals.
On average, the price of sugar is currently stable in the market, and record production is expected in the new season also due to which there is less possibility of increasing the price, but on average the tone of the market so far looks mixed.
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