Conditions are favorable to allow export of sugar

29-Aug-2024 03:58 PM

New Delhi. BM Agarwal of Birla Sugar Mills has said that given the current favorable situation in the international sugar market and the positive scenario of domestic production in the 2024-25 marketing season (October-September), a strong case is being made to allow export of sugar.

The government should take the necessary decision in this regard as soon as possible as the new marketing season is not far away.

The favorable environment of the present time can provide a good opportunity to India's sugar exporters to take better advantage of the dynamics of the global market.

BM Agarwal has urged the Central Government to allow commercial export of up to 30 lakh tonnes of sugar in the marketing season of 2024-25, saying that this will not have any adverse effect on the supply and availability and price of this sweet commodity in the domestic market,

while helping the millers to keep their cash flow (liquidity) dynamic and ensure payment of dues of sugarcane producers on time.

It is noteworthy that there is a ban on commercial export of sugar since June 2023 and despite repeated requests from the industry, the government is not making any effort to remove it.

ISMA had tried to convince the government by citing figures but the matter has not been resolved yet. Industry analysts also believe that export of up to 30 lakh tonnes of sugar will not have any impact on the domestic market as it is surplus stock.

The new marketing season will start from October 2024. The situation of supply and availability of sugar remains smooth and there is no problem in it in future as well.