India Allows Shipment Of Over 155,000 Tonnes Of Sugar News.

The ministry of food and public distribution has issued release orders allowing shipment of 155,816 tonnes of sugar out of the total quantity of 500,000 tonnes of sugar exports allowed in the current season.

The food ministry allowed 155 mills to export a total of 1,55,816 tonnes of sugar while it did not approve export quota of five mills citing problems in their agreements or applications.

An empowered group of ministers (EGoM) on food headed by finance minister Pranab Mukherjee had, in March, approved sugar exports of a total 500,000 tonnes under Open General Licence (OGL).

The decision was notified on 19 April and the government had reserved 51,500 tonnes out of the total export quota of 500,000 tonnes, for sale to neighbouring countries.

The remaining quantity of around 450,000 tonnes was allocated among 490 mills on the basis of their average production over the last three years.

The Indian Sugar Mills association (ISMA), the apex association of sugar mills in the country, however, has sought export release orders for only a third of the total 445,000 tonnes of shipment permitted by the government, though the deadline expires this week.

Source : domain-b.com