Export agreement by sugar mills without subsidy support

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Mumbai, Ta. 25 November 2020, Wednesday

For the first time in the last three years, the country's sugar mills have signed export agreements without government support. Sugar mills have been forced to enter into export agreements without subsidy support from the government in view of the increase in the amount of sugarcane to be given to farmers.

The mills have so far signed an agreement to export 10,000 tonnes of sugar in the new sugar season starting October 1. The mills are disposing of sugar keeping in view the high stock of sugar and the possibility of abundant production, industry sources said.

India is the second largest producer of sugar besides the largest consumer. But the country produces more sugar than it needs, which leads to overcrowding.

The government continues to provide subsidies to encourage sugar exports so that farmers can get their money on time. However, the announcement of subsidies has been delayed this year due to differences between the ministries. The government has not yet announced export quotas for the 2020-21 sugar season. However, given the amount of sugar exported by India, the 10,000-tonne export agreement is considered normal, industry sources said. Last season, sugar mills were able to export 3 lakh tonnes of sugar due to subsidies of Rs 102 crore.

In the current sugar season, which started in October, the country's sugar production is estimated to increase by 12 per cent to 21 million tonnes. Sources in the Indian Sugar Mills Association (ISMA) had earlier said that sugar production was on the rise due to high availability of sugarcane. On October 1, the opening stock of sugar in the country is estimated at 1.08 crore tonnes.

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