'Decision on sugar exports likely by next week'

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SME Times News Bureau | 10 Nov, 2011
The government may take decision to allow sugar exports for this marketing year during the meet of empowered group of ministers (eGoM) scheduled on November 16-17, reports media on Tuesday.

Replying on the demand of exporters to allow exports of four million tonnes of sugar this year, Food Minister K V Thomas told media in Mumbai, "We will work out a scheme for export of certain quantity of sugar, which will be favourable to both the industry and the farmers."

He said the issue would be discussed in the meeting of eGoM on food, headed by Finance Minister Pranab Mukherjee, on November 16-17.

Thomas said he met Agriculture Minister Sharad Pawar this morning and had a wider discussion on sugar production as well as exports.

"We have no problem with exports of certain quantity. We will work out a scheme for November and December of this year," the minister added.

In 2010-11 marketing year (October-September), the government had allowed 2.6 million tonnes of sugar exports, of which 1.5 million tonnes were under Open General Licence (OGL) in three equal tranches.

Sugar production of India -- the world's second largest producer and biggest consumer -- rose to 24.3 million tonnes in 2010-11 from nearly 19 million tonnes in the previous year.

In this marketing year, the government has pegged output at 25 million tonnes, while the industry estimates the production at 26 million tonnes.