(MENAFN- KNN India) New Delhi, May 9 (KNN) India's government said on Wednesday it needs several more months to decide whether to allow sugar exports this year as it assesses domestic supply and demand.
The world's second largest sugar producer after Brazil has banned exports since June 2022 to maintain domestic stocks and boost ethanol production.
"It is still early days," said Sanjeev Chopra, India's Secretary of Food and Public Distribution. He noted exports likely won't resume until the government ensures enough sugar for local consumption for at least two and a half months, plus sufficient supply for the ethanol program, which is a clear priority, reported ET.
India's sugar mills want to export 2 million tonnes this season to boost revenues. But the Indian Sugar Mills Association says it has yet to receive a government decision on its request.
The country is expected to have 9 million tonnes of sugar stockpiled at the end of the current season in September after ethanol diversion, enough for domestic use and exports, the association stated.
India produced an estimated 33.8 million tonnes of sugar in the 2022/23 season ending this month.
(KNN Bureau)
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