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Move to export 10 lakh metric tonnes of sugar forward-looking, feels expert
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Wednesday, 22 January, 2025, 08 : 00 AM [IST]
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Ashwani Maindola, New Delhi
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The Union Government has decided to export 10 lakh metric tonnes of sugar aiming at strengthening liquidity for sugar sector.
Prahlad Joshi, Minister for Consumer Affairs & Public Distribution, said, "The Government of India has approved a 10 LMT sugar export quota for 2024-25.
This ensures price stability, supports 5 crore farmer families, 5 lakh workers, and strengthens the sugar sector."
According to the Ministry, the purpose was to stabilise sugar prices and ensure
timely farmer payments wherein 10 LMT sugar allocated for export.
The Minister added that the decision will boost liquidity for sugar mills, ensure timely cane dues and balance sugar availability and prices for consumers.
It is learnt that the sugar industry had demanded 20 lakh tonnes of export from the government.
Giving his point of view, Mukesh Kumar, ED, Vishwaraj Sugar Industries, said, "India's decision to permit the export of 1 million tonnes of sugar during a period of rising ethanol demand and production challenges is a forward-looking move aimed at stabilising the domestic market while addressing global trade opportunities. This step offers a dual benefit: it will help regulate domestic sugar prices and ensure that sugar mills have the financial resources to make timely payments to farmers, a critical factor in sustaining the agricultural backbone of the industry."
Kumar added that sugar mills are grappling with rising operational costs, including labour and energy expenses, coupled with logistical bottlenecks and financing constraints. Meeting the dual demands of domestic supply and exports presents a significant challenge. However, the revenue from exports will help mills overcome these hurdles, ensuring smoother operations and greater financial stability.
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