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The ministry informed that the major importing countries are Indonesia, Afghanistan, Sri Lanka, Bangladesh, UAE, Malaysia and African countries
Photo Credit : Bloomberg
The Ministry of Consumer Affairs, Food and Public Distribution has said that the export of sugar in the current sugar season 2021-22 is 15 times more than in 2017-18.
The ministry informed that the major importing countries are Indonesia, Afghanistan, Sri Lanka, Bangladesh, UAE, Malaysia and African countries.
In sugar seasons 2017-18, 2018-19 and 2019-20, about 6.2 lakh metric tonnes (LMT), 38 LMT and 59.60 LMT of sugar were exported respectively. In the sugar season 2020-21, against a target of 60 LMT, about 70 LMT have been exported.
According to the ministry, about Rs 14,456 crore was released to sugar mills in the past five years to facilitate the export of sugar and Rs 2,000 crore as carrying cost for maintaining buffer stock.
"Since the international prices of sugar are in an uptrend and stable, so, contracts for export of about 90 LMT have been signed to export sugar in current sugar season 2021-22 and that too without the announcement of any export subsidy; out of which 75 LMT have been exported till 18 May," it said.