DUBAI: Conditions are right for the possible approval of Indian sugar exports by authorities at a meeting on Feb. 7, a senior miller said on Sunday.
"The government has no reason not to approve some sugar for export very soon, on Feb. 7," Abinash Verma, director-general of the Indian Sugar Millers Association (ISMA), said in an address to the Feb. 4-7 Kingsman Dubai sugar conference.
Trade sources in Dubai said they believed it was likely that Indian authorities would approve up to 1 million tonnes of sugar exports on Feb. 7.
Verma said India, the world's number 2 sugar producer after Brazil, has a sugar surplus of 3-4 million tonnes available for export in 2011/12.
He reiterated his view that India, the world's largest sugar consumer, would produce 26 million tonnes of sugar in 2011/12, and said the country would consume 22 million tonnes in that period.
Source : economictimes.indiatimes.com