| Date: |
28-09-2011 |
| Subject: |
India Should Allow 4 Mn Sugar Exports in 2011/12: NFCSF |
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NEW DELHI: India should allow 4 million tonnes of unrestricted sugar exports in the new season from October to help trim bulging stocks and arrest slipping local prices, the chief of a producers' body said on Tuesday.
The federal government should also buy 2 million tonnes of sugar from the local market to help cut stocks with mills as 2011/12 output is expected to be 26.5 million tonnes, Jayantilal B. Patel, president of the National Federation of Cooperative Sugar Factories Ltd ( NFCSF), told an industry meeting.
"This expected surplus production of sugar during 2011/12 is worrying," he said.
The Indian Sugar Mills Association (ISMA), another producers' body, also shares Patel's 2011/12 output forecast. However, Food Minister K.V. Thomas was conservative with his last week's estimate of 24.6 million tonnes.
Source : economictimes.indiatimes.com
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