New Delhi: India has so far signed contracts to export 3.5 million tonnes of sugar in the ongoing 2022-23 season, said the industry body Indian Sugar Mills Association (ISMA) on Thursday. Out of this, about 2 lakh tonnes of sugar have been physically exported out of the country in the month of October, 2022 as compared to about 4 lakh tonnes exported in the corresponding month last year.
As per the sugar export policy for the 2022-23 year announced by the centre on November 5, traders are allowed to export 60 lakh tonnes of the commodity on a quota basis till May 31. Additional export quota may be allowed after assessing the domestic production.
As per ISMA, sugar production till 15th November, 2022 in the current season is 19.9 lakh tonnes, against 20.8lakh tonnes produced last year on 15th November 2021.
