Categories: Business

india set to record highest sugar export


sugar export at record high

new Delhi. In the Corona era, India has spent nearly 48 lakh tonnes of sugar in the world markets and has done 52 million tonnes of export transactions, which is a record level of sugar exports, while continuing to explore the market for sugar exports. . However, industry body NFCSF estimates that China could buy about three lakh tonnes of sugar in the current season, which could lead to a new record of 5.8 million tonnes of sugar exports.

Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories (NFCSF), a cooperative sugar factories organization, told IANS: "China has procured over one lakh tonnes of sugar from India, while two to three lakh tonnes of sugar in the entire season Is expected to be exported to China. " China used to buy sugar mainly from Brazil, but India is focused on it. "It is easy for China to buy sugar from India and it is buying sugar from India this year, so there is an opportunity to sell two to three lakh tons of sugar to China," Nakinwere said. He said that with Chinese going to China, India can export up to 58 lakh tonnes of sugar in the current season 2019-20 (October-September), which will be a new record.

The NFCSF managing director said, "Earlier in 2007-08, India exported a record 49 lakh sugar which has already been broken because there have been 52 lakh tonne of export deals, but the total export during the season is up to 5.8 million tonne. Can go, which will be a new record. " In the current sugar season 2019-20 (October-September), the quota for the export of a total of 60 lakh tonnes of sugar has been fixed under the maximum allowable export volume (MAEQ) at which the government exporting sugar mills at the rate of Rs 10,448 per tonne Subsidies

According to information received from the industry organization, so far 48 lakh tonnes of sugar from India has gone out of the country in the current season, of which 55% is raw sugar while 45% is white sugar. India has exported the largest amount of sugar to Iran so far. According to the information, more than 1 million tonnes of sugar has been exported to Iran while more than half a million tonnes to Somalia. India has, in addition, exported sugar in the current season to several countries including Indonesia, Sri Lanka, Afghanistan, Russia, Sudan, Bangladesh and China. According to the information, 1.23 lakh tonnes of sugar have been exported to China.

According to the Indian Sugar Mills Association (ISMA), the apex organization of private sugar mills, sugar production in the country is 272 lakh tonnes in the current season 2019-20 while it is estimated to be 305 lakh tonnes in the upcoming season 2020-21 (October-September). .

This post was published on July 16, 2020 7:09 pm

Content Team

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