Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Aid package for mills to export sugar likely to get nod as industry struggles with soaring stocks.


Date: 28-08-2019
Subject: Aid package for mills to export sugar likely to get nod as industry struggles with soaring stocks
NEW DELHI: The Union Cabinet on Wednesday is likely to approve a mega assistance package for sugar mills to export nearly 8 million tonne during 2019-20 sugar year starting October as the industry struggles to deal with a huge glut of the sweetener. Sources said the package could be of approximately Rs 9,000 crore to the sugar mills which will get the financial assistance under the scheme.

TOI has learnt that the central assistance could be around Rs 9.50/kg to the mills to make the export viable. Currently, the global price of white sugar is about Rs 20 per kg while the average production cost is around Rs 33 and the government has set Rs 31 as the minimum price of sugar at factory gate. Industry sources said the central assistance will be of huge help to the industry to unload the excess stock it has accumulated. 

Failure to reduce the stock will impact the sugar mills capacity to pay arrears. The current arrears of sugarcane growers is around Rs 13,000 crore. “We need to bring it down quickly before the onset of next sugar season in November when fresh sugarcane will start arriving at the factory gates,” said an official. 

Sugar industry insiders said the opening balance of sugar in November is likely to be nearly 14 million tonnes, which is about 9 million tonnes more than what is required. “So, we need to get rid of that extra stock, else it will be a bigger crisis next year when fresh sugar will be produced,” said one of the sugar mill owners. 

Last year, the government had announced a package for export of 5 million tonnes of sugar and till now about 3.8 million tonnes have been exported by the millers. “We have another month left and let’s hope we will touch 4 million tonnes,” said an industry player. 

Source: timesofindia.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 21-10-2020
Notification No. 38/2020-Customs
Notification regarding exemption of duties of Customs against scrips issued under the RoSL scheme for apparel and made-ups sectors.

Date: 21-10-2020
Notification No. 07/2020 – Central Excise
Notification regarding exemption of duties of Central Excise against scrips issued under the RoSL scheme for apparel and made-ups sectors

Date: 20-10-2020
Notification No. 37/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, regarding the rate of duty of customs on imports of "Polybutadiene Rubber" originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement.

Date: 15-10-2020
Notification No. 99/2020 - Customs (N.T.)
Exchange rate Notification No.99/2020-Cus (NT) dated 15.10.2020- regd.

Date: 13-10-2020
Trade Notice No. 30/2020-2021-DGFT
Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under GSP, GSTP, India-Malaysia CECA, India-Singapore CECA w.e.f. 15th October 2020

Date: 09-10-2020
Notification No. 39/2015-2020
Amendment in Export Policy of Onions

Date: 08-10-2020
Circular No. 44/2020-Customs
Procedure for inspection of ICDs/CFSs/AFSs -reg

Date: 08-10-2020
Notification No. 49/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 07-10-2020
Public Notice No.24 /2015-20
Revision of SION H-68, H-301 & H-302 of Export Products- Double Decorative/Single side Laminates with or without Barrier Paper

Date: 06-10-2020
Instruction No. 18/2020-Customs
Directorate General of Audit as a Nodal Directorate for Customs Post Clearance Audit –regarding



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001