India’s sugar exports touch 5.11 million tonnes so far this year: AISTA

India’s sugar mills have exported 5.11 million tonnes of the sweetener so far in the ongoing 2020-21 marketing year ending September 2021, with maximum shipments to Indonesia, noted All India Sugar Trade Association (AISTA).

About 2,02,521 tonnes of sugar is under loading. An additional 6,78,237 tonnes of sugar is in transit for delivery to port-based refineries, it said.

Export of the entire 6 million tonne sugar quota assigned by the food ministry in January this year, have been contracted to the mills, said AISTA in a statement.

An additional 800,000 tonnes of sugar have been contracted under the OGL (open general license) route without subsidy support.

The sugar marketing year runs from October to September. According to AISTA, mills have exported a total of 5.11 million tonnes of sugar from January 1 till August 5, 2021.

Of the total exports undertaken so far, maximum exports have been undertaken to Indonesia at 1.69 million tonnes so far this year, followed by Afghanistan at 6,23,967 tonnes and the UAE at 4,60,816 tonnes and Sri Lanka at 3,78,280 tonnes.

“We are proud to say that the value of the sugar exported /under the process of the shipment is in excess of $ 2.5 billion or about Rs 18,600 crores, contributing to the country’s export earnings, particularly in a pandemic year and increasing the liquidity in the hands of sugar mills to pay cane price to farmers,” the trade body noted.

The industry body further said that India has managed to contract around 6 million tonnes of sugar without export to Iran, which has the potential to buy 1.2 million tonnes.

As the current marketing year coming to an end, AISTA said there is an urgent need for a timely announcement of the sugar export policy for the next year. The international market has gone up from 17.28 cents per pound on July 10 to 19.59 cents per pound on August 11, 2021, a rise of about 13.4 percent on account of weather problems in Brazil. AISTA has also requested the government to clear the pending subsidy claims and address the shortage of containers and rise in ocean freight. Many export subsidy claims of previous years have not yet been settled.

Leave a Reply

Your email address will not be published. Required fields are marked *