According to preliminary data, the sugar cane area in top producers Maharashtra and Uttar Pradesh is greater for the crop that will be harvested in the season beginning on October 1, indicating that supplies will be sufficient for the following year, according to Jhunjhunwala.
Digital
Desk: According to those with knowledge of the situation, India may authorize
sugar mills to export more than they were previously allowed to in order to aid
them in avoiding contract defaults.
According
to the persons who requested anonymity because of the nature of the
information, the government is considering authorizing additional sales of 1
million to 1.2 million tonnes of sugar for the fiscal year ending September 30.
On top of the 10 million tonnes now allotted, that is.
India, the
second-largest producer of sugar in the world, restricted exports in May in
order to safeguard its food supply. Since stockpiles appear to be sufficient at
this time to meet domestic consumption, growers have requested to ship
additional volume. The overall pricing trend would be negatively impacted by
any additional shipments this year.
According to Aditya
Jhunjhunwala, president of the miller's organization, the Indian Sugar Mills
Association had petitioned the government to permit exports of an additional 1
million tonnes, including as much as 700,000 tonnes of raw materials. He
claimed that some of the volumes had already been contracted.
Requests for a response from a spokeswoman for the trade and food ministries were not
immediately returned.
According to
preliminary data, the sugar cane area in top producers Maharashtra and Uttar
Pradesh is greater for the crop that will be harvested in the season beginning
on October 1, indicating that supplies will be sufficient for the following
year, according to Jhunjhunwala.
According to
Jhunjhunwala, the nation would have more than 6 million tonnes in its
inventories on September 30- more than enough to supply local demand before cane
crushing begins in October- even after exporting an additional 1 million tonnes
this season.
