| Date: |
12-07-2010 |
| Subject: |
Sugar export may not be allowed till Diwali |
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NEW DELHI: Sugar mills may have to wait till Diwali in November to fulfill their export obligation of nearly 10 lakh tonnes as the Food Ministry is reluctant to permit shipments fearing price rise during the festive season.
Mills had imported 20.75 lakh tonnes of sugar in 2004-05 crop year (October-September) under the Advance Licence Scheme (ALS) as there was a shortfall in production then. Mills are required to export an equal quantity by March 2011.
Out of total imported sugar, export obligation of 9.67 lakh tonnes is yet to be fulfilled.
Mills cannot export the sweetener without the release order from the ministry.
"Some of the millers have approached us demanding export release order. But at the moment, we cannot allow... as the sugarcane availability and production estimate for the next season is yet to be firmed up," a senior Food Ministry official said.
Source : Express Buzz
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