COMMODITY
Government rejects sugar export requests for 2023-24 season
Apr-15-2024

The government has dismissed the possibility of allowing sugar exports in the current 2023-24 season ending October, defying persistent demands from the industry. Currently, there are curbs on export of sugar for an indefinite period.

Earlier, Indian Sugar Mills Association (ISMA) has requested the government to allow export of 10 lakh tonne of sugar in the 2023-24 season, anticipating healthy closing stock by the season-end. The industry body said the request for export suggests a careful balance between meeting domestic consumption needs, sustaining the Ethanol Blending Program (EBP) and leveraging surplus for export opportunities. The country's sugar production crossed 30 million tonne till March of the ongoing 2023-24 season. ISMA has revised net sugar production estimate for 2023-24 season to 32 million tonne. The government has estimated sugar output at 31.5-32 million tonne. Meanwhile, the government is considering allowing sugar mills to use excess stock of B-heavy molasses for ethanol production this year.

The sugar season runs from October to September. The net sugar production stood at 328.2 lakh tonnes during the 2022-23 marketing year with a diversion of 38 lakh tonnes of sweetener for ethanol-making from sugarcane juice and B-heavy molasses.

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