More sugar exports possible if domestic output reaches as estimated: Govt official
The government has allowed export of 6 million tonnes of sugar this year.
India has a cushion to export additional 1 million tonnes of sugar this year if the domestic output reaches the estimated 33.6 million tonnes, a senior food ministry official said on Monday.
Sugar availability is comfortable in the country even as the total sugar production is pegged lower at 33.6 million tonnes in the ongoing 2022-23 marketing year (October-September), he said.
Sugar production stood at 35.9 million tonnes in the 2021-22 marketing year.
"Next month, we will get concrete data of sugar production and then we will take a call on further sugar exports, " Additional Secretary in the food ministry Subhod Kumar told reporters.
Sugar production has reached 24.7 million tonnes till February of the ongoing 2022-23 marketing year, he said.
"More exports are possible and we have a cushion for exports of additional one million tonnes, suppose the overall production reaches the estimated 33.6 million tonnes this year," the official said.
The government has allowed export of 6 million tonnes of sugar this year.
India is the world's second largest sugar producing nation and one of the top exporters.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
02:35 PM IST