Sugar Exporters

GOI To Decide On Raising Sugar Export Quota In March After Assessing Output Estimate: Mr. Sanjeev Chopra, Food Secretary of India

GOI To Decide On Raising Sugar Export Quota In March After Assessing Output Estimate: Mr. Sanjeev Chopra, Food Secretary of India

India is the leading producer and consumer of sugar across the world. It is also the major sugar exporter after Brazil. As per record, the farmers of India have produced around 50 crore tonnes of sugarcane. But sugar export from India has been a sensitive topic for a long time. The GOI is deciding to export more sugar in March 2023 and offers subsidies so that the Indian sugar could compete in the global market against Thailand and Brazil. 

Initially, GOI was not planning to increase the Sugar Exports as the authority wanted to reassess the sugar production. 

Trend In Sugar Export Quota 

On Wednesday, The Hon’ble Food Secretary of India, Mr. Sanjeev Chopra said that next month i.e. in March, the GOI will take a call on increasing the sugar export quota after assessing the domestic production, from the recent 60 lakh tonnes for the current marketing year 2023-24. 

The food ministry has approved the export of around 60 lakh tonnes of sugar in the current marketing year 2022-23 (Oct-Sept), despite the fact that sugar production might fall due to weather conditions in some sugar producing states of India. In the previous year, India exported a record 110 lakh tonnes of sugar.

When a news reporter asked, The Food Minister of India, Mr. Sanjeev Chopra regarding hike in sugar export quota he quoted that “We have not yet taken any decision, we are keenly observing and monitoring the production data and we would come to any decision in March only after accessing the final figures of the anticipated sugar production.” He also mentioned that the estimated sugar production might be less in the 2022-23 marketing year owing to the bad weather in some states of India. 

As per the recent statement of Indian Sugar Mills Association (ISMA), the sugar produce would fall 5% during the current marketing year to around 340 lakh tonnes as high quantity of sugar is diverted for processing ethanol from sugarcane. 

Sugar Production And Export In Current Marketing Year 2022-23 

The sugar production was 358 lakh tonnes in the 2021-22 marketing year. Approximately 24 lakh tonnes of sugar would be diverted to ethanol production. Sugarcane juice as well as B-molasses are also being diverted to the ethanol processing unit. 

In the marketing year 2021-22, around 32 lakh tonnes of sugar was diverted to generate ethanol for blending with petrol. 

Maharashtra’s evident sugar output is expected to fall down from 137 lakh tonnes to 121 lakh tonnes in 2022-23, the previous year. Uttar Pradesh may experience a minor decrease from 102 lakh tonnes to 101 lakh tonnes, while Karnataka may experience a decrease of 4 lakh tonnes i.e. from 60 lakh tonnes to 56 lakh tonnes. 

ISMA stated that India’s sugar production increased 3.42% to 193.5 lakh tonnes in the first four months of 2022-23. 

According to the All India Sugar Trade Association (AISTA), India has exported 27.83 lakh tonnes of sugar until February 9 of the current marketing year 2022-23, with Bangladesh and Indonesia being the leading markets. 

Mills have agreed to export the entire 60 lakh tonnes of sugar allowed by the government. 

If you are an importer wishing to buy agro-commodities including sugar in bulk or are an exporter willing to grow your agro-export business, then Tradologie.com is the right platform for you. Tradologie has 600,000+ verified global buyers and over 70,000 suppliers of food and agro commodities in its network and through the platform, you can connect and conduct trade with the relevant ones with ease. 

To register as a seller, click here. To register as a buyer, click here

To stay updated with the latest happenings of the agro-trade industry, follow Tradologie.com across all channels. 

REFERENCE 

https://bit.ly/3lA3flf

You may also like
Sugar Prices Fall Back On Increased Brazil Sugar Output
Government May Soon Cut 2022-23 Sugar Export Quota by 29%
Government May Soon Cut 2022-23 Sugar Export Quota by 29%

Leave Your Comment

Your Comment*

Your Name*
Your Webpage