Pune: Sugar mills in India are eyeing to export sugar surplus in a bid to reduce the glut and also leaving no stone unturned to lock in deals with buyers to commence the export. A ten-member delegation of China will be visiting New Delhi to discuss sugar import. China annually imports 50 lakh tonne of sugar.
Experts in the sugar sector expect that the sugar production at the international level will dip this year, and India has a good scope to encash this opportunity. To reduce the sugar surplus, the government had announced financial assistance on 60 LMT sugar export for 2019-20 sugar season. The policy involves financial aid of Rs 10,448 per metric tonne (mt) to sugar mills.
Prakash Naiknavare, Managing Director of Maharashtra Cooperative Sugar Federation, said, “Sugar production in many other countries, including Brazil, the world’s top sugar-producing country, is expected to decline. The central government had announced sugar export quota of 60 LMT, which can be completed in a similar situation, so all the sugar mills of the country need to come forward to export sugar. In this regard, the delegation of China will be coming to New Delhi on October 10.”
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