Login ID:
Password:
Partner Login
Contact Us : 7066511911

Govt decides to regulate sugar exports from June 1

25 May 2022 6:48 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

New Delhi, 25 May (Commoditiescontrol) With a view to maintain domestic availability and price stability of sugar in the country during sugar season 2021-22(October-September), the Central Government has decided to regulate the sugar exports w.e.f 1st June, 2022 till further orders.



1.In sugar seasons 2017-18, 2018-19 & 2019-20, about 6.2 LMT, 38 LMT & 59.60 LMT of sugar was exported. In sugar season 2020-21 against target of 60 LMT about 70 LMT have been exported. Contracts for export of about 90 LMT have been signed in current sugar season 2021-22, about 82 LMT sugar has been despached from sugar mills for export and approx. 78 LMT have been exported. Export of sugar in current sugar season 2021-22 is the historically highest.



2. Government has been continuously monitoring the situation in sugar sector including sugar production, consumption, export as well as price trends in wholesale and retail markets all over the country. India has been the highest producer and the second largest exporter of sugar in the world in current year. As a result of regular efforts of Government of India, despite record production of sugar, 99.5% of cane dues for last sugar season 2020-21 have been paid and about 85% of cane dues of current sugar season 2021-22 have also been release to farmers.



3. Government of India is committed to maintain stable prices of sugar in the domestic market and in last 12 months, prices of sugar are under control. Wholesale prices of sugar in India are range bound between ₹ 3150 - ₹ 3500 per quintal while retail prices are also within control in the range of ₹36-44 in different parts of the country.

4. Taking into consideration unprecedented growth in exports of sugar and the need to maintain sufficient stock of sugar in the country as well as to safeguard interests of the common citizens of the country by keeping prices of sugar under check, Government of India has decided to regulate sugar exports w.e.f. 01 June 2022. Sugar mills and exporters need to take approvals in form of Export Release Orders (EROs) from Directorate of Sugar, Department of Food and Public Distribution.



5. Govt will allow export upto 100 LMT so that closing stock of sugar at the end of sugar season (30th Sept 2022) remains 60-65 LMT which is 2-3 months stocks ( monthly requirement is around 24 LMT in those months) required for domestic use. Crushing in new season starts in last week of Oct in Karnataka and in last week of Oct to Nov in Maharashtra and in Nov in Uttar Pradesh. So generally, up to Nov, supply of sugar takes place from previous year stock.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Special Reports
Cost of wheat, export controls, social unrest & challen...
Guargum (NCDEX) vs. Guarseed (NCDEX) - Ratio Chart Anal...
Mentha oil prices fall on dull demand
Guar seed, gum prices under pressure on weak demand, un...
more
Top 5 News
Week Ahead: White Pea prices to remain range bound on l...
Week Ahead: Moong prices unlikely to see fall from curr...
Week Ahead: Kabuli Chickpea to trade on higher side ami...
Week Ahead: Chana may trade firm on increase in seasona...
Week Ahead: Masoor imports may increase as landed cost ...
Top 5 Market Commentary
LME Stocks: Copper stock rises by 11825 MT
Kandla Vessel Line Up - 27 June 2022
Mumbai
Week Ahead: Spice market may witness mixed trend
ZCE COTTON AND YARN AFTERNOON CLOSE 27 JUNE 2022
Copyright © CC Commodity Info Services LLP. All rights reserved.