The Government today said it will take a decision on allowing sugar exports in the 2011-12 marketing year in the first week of November after assessing global prices and reconciling local production estimates.
In the 2010-11 marketing year (October-September), the Government had allowed exports of 2.6 million tonnes of sugar.
“I will take a decision on sugar exports in the first week of November after evaluating our production estimates, the international and domestic price situation,” the Food Minister, Mr K.V. Thomas, told presspersons on the sidelines of an event here.
Yesterday, the Minister had said that sugar exports will be allowed in phases and the quantity of shipments will be decided after reconciling this year’s production estimates.
Mr Thomas also said that the production forecast for sugar in 2011-12 will be reconciled and finalised after meeting the Agriculture Minister, Mr Sharad Pawar, in the next few days.
Last month, the Food Ministry had pegged sugar output at 24.6 million tonnes for the year, up from 24.3 mt in 2010-11. The Ministry’s estimates are, however, lower than the Agriculture Ministry’s estimate of 25 mt of sugar production.
The sugar industry has estimated production of 26-26.5 mt of sugar this year.
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