Consideration of ban on export of sugar

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Mumbai: The central government is considering a complete ban on the export of sugar after the country's sugar production is expected to remain low in the current season. Sugar prices have recently increased due to lower production estimates. For the current sugar season (October 2022 to September 2023), the government has given permission to export 60 lakh tonnes of sugar from the country, out of which 58 lakh tonnes of sugar have been exported.

Government sources said that no more sugar export concession will be given in the current season and considering the El Nino situation, it will not be surprising if the export may be banned in the next season. In the last season, the government had given export concession for 1.10 crores of sugar.

Along with the global market, the price of sugar is increasing continuously in the domestic market as well. The price of sugar 30 in Mumbai wholesale market is Rs.3630, in Ahmedabad Rs. 4000, Rs.3800 in Delhi, Rs.3900 in Kanpur, Rs.4000 in Ranchi, Rs.4000 in Kolkata and Rs.3800 in Chennai.

Costly sugar in the wholesale market is impacting the retail market. In the retail market of Mumbai, the price of sugar has increased from Rs 40 per kg to Rs 46 per kg in the last two weeks. At present the highest price of sugar in the country is in Chennai at Rs. 52 and in Hyderabad Rs. 51 per kg is being sold.

Sugar prices in the global market have reached an 11-year high due to low production. White sugar was at a 10-year high in March. The sugar contract in the US reached 24.45 dollars. While in January 2012, the price of sugar was 24.50 dollars. The price of sugar has increased by 10 percent in the month of April.

The government has increased the quota by an additional 1.50 lakh tonnes for the month of May to prevent further price volatility. This increased supply is likely to lower prices in the coming days. The Indian Sugar Mills Association (ISMA) has cut the production estimate for the current sugar season by 3.50 percent. Due to low sugar production, the supply of sugar for ethanol has also been reduced by 11 percent.

For the current season, ISMA had earlier estimated production of 340 lakh tonnes after converting 45 lakh tonnes of sugar into ethanol, but now it is estimated at 328 lakh tonnes after converting 40 lakh tonnes to ethanol. Lower than expected sugar production in Maharashtra has raised the possibility of low availability of sugar at home.


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