Sugar Industry urges Government to allow exports of 15 lakh tonnes of sugar

Posted by Daily Shipping Times on 07-03-2018        Tweet

PUNE: The sugar industry has asked the Government to allow export of 15 lakh tonnes of the commodity to manage surplus production.

An expected bumper crop next year may warrant early beginning of crushing operations and the industry is keen to begin exports before the onset of the monsoon season. Also, movement of sugar as well as port operations become sluggish during the monsoon season.

“Considering that there has been reportedly a larger sugar production in the current year and is also expected in the 2018-19 season, there is a need to export at least 15 lakh tonnes over the next 6-7 months. This will result in extra cash flows to the sugar mills, which, in turn, will ensure timely payments to farmers and reduce arrears,” ISMA said.