India to fulfill 1 mln tons of sugar export quota in two months — ISMA
Deepak Ballani, CEO of the Indian Sugar and Bioenergy Manufacturers Association (ISMA), said that India will easily exhaust its sugar export quota of 1 million tonnes allowed by the government for the current marketing year.
This was reported by tribuneindia.
The sugar season in India runs from October to September.
“We have already exported (physical deliveries plus contracts) about 600,000-700,000 tonnes. We have a big window until September… and I think we can complete our export quota of 1 million tonnes in two more months,” Ballani said.
After restricting sugar trade in the 2023/2024 MY season, the central government on January 21 this year allowed manufacturers to export 1 million tonnes of sugar. The previous year, the government had restricted sugar exports, presumably to maintain price stability in domestic markets.
“We want to complete the exports that the government has allowed us,” he said, referring to the 1 million tonne quota. “We expect a very good harvest next season. Then we will discuss it with the government. Right now we are not looking for more quotas.”
According to Ballani, the larger initial stocks have made the overall availability of sugar across the country comfortable, and that is what prompted the government to open up export routes for producers. The government’s priorities are domestic consumption, then the ethanol blending programme and finally exports.
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