Indian Sugar Mills Association (ISMA) on Monday welcomed the government’s decision to allow export of 6 million tonnes of sugar till May 31, of the 2022-23 season and expressed confidence of getting export nod for additional 3 million tonnes.
While the industry had requested the government to allow exports of 9 million tonnes of sugar, the Food Ministry on November 5, permitted only 6 million tonnes on a quota basis till May 31 of the 2022-23 season (October-September).
The government has said it could reconsider further quantities after assessing the domestic production.
“Sugar industry is confident that the government will allow sugar exports of additional 3 million tonnes,” ISMA said in a statement.
This would ensure steady domestic prices, enabling timely cane price payment to farmers and lower inventory levels ensuring there are no additional costs incurred by mills, it added.
ISMA hailed the government’s sugar export policy and said the tradable quota scheme will ensure transparency in sugar exports.