In order to balance the interests of its farmers and consumers, India, the world’s biggest producer of sweeteners, is set to allow Sugar Exports in 2 tranches for the next season that begins in October and is likely to cut the sugar export quota by 29% for this marketing year.
In an effort to keep prices under control, the Indian government, last June, had put restrictions on the export of sugar. The decision was taken in view of the sugar prices back then in the country and was aimed at maintaining domestic availability amid rising food and fuel prices. However, the ‘sugar situation’ seems to be improving and with the beginning of the new marketing year this October, India is set to allow 5 million tonnes of Sugar Exports in India.
Government of India had imposed restrictions on sugar exports effective from June 1 to control prices and maintain adequacy of sugar in domestic market. Now GOI has approved export of 1.2 MT extra sugar this season as high production next season is expected. This season 10 MT sugar has already been exported and this new quota is additional. Thus total sugar outflows will be 11 MT this season making it highest ever. This new quota is a recent approval of group of ministers.
Sugar is a kind of carbohydrate that the body uses to produce glucose. They are a source of energy for us.
It can be found naturally in some foodstuffs, such as fruits and dairy products, and is also added to a wide range of foods. However, the most common crop used for extracting Sugar used in our daily lives is Sugarcane. It contributes 80% of the World’s Sugar Production.
Today, India holds the coveted spot of being the largest producer of Sugar in the world. However, as “Rome was not built in a day”, similarly this remarkable feat also has its own share of ups and downs.