(MENAFN- KNN India) New Delhi, Apr 16 (KNN) The Indian government has firmly rejected the possibility of allowing sugar exports in the current 2023-24 season, which ends in October, despite persistent demands from the industry.
Despite the Indian Sugar Mills Association (ISMA) requesting the government to permit the export of 10 lakh tonnes of sugar in the 2023-24 season, a senior food ministry official categorically stated that the government is not considering sugar exports at the moment.
India's sugar production has exceeded 30 million tonnes until March of the ongoing 2023-24 season. ISMA has revised its net sugar production estimate for the 2023-24 season to 32 million tonnes, while the government has estimated sugar output at 31.5-32 million tonnes.
The government's decision to reject the industry's pleas for sugar exports comes amid concerns over domestic supply and price stability.
By restricting exports, the authorities aim to ensure adequate availability of sugar in the domestic market and prevent any potential price hikes that could impact consumers.
However, in a move to support the sugar industry, the government is considering allowing sugar mills to use their excess stock of B-heavy molasses for ethanol production this year.
This measure could provide relief to the mills by enabling them to divert surplus molasses towards the production of ethanol, a biofuel that is gaining importance in India's energy mix.
(KNN Bureau)
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