ChiniMandi, New Delhi: In a notification issued on 28th day of February 2023, the food ministry has allocated 22 LMT monthly sugar quota for March 2023 to 566 sugar mills which is 0.5 LMT higher than the quota allocated in March 2022.
According to an industry expert, the quota is just 0.5 LMT higher than that allocated in the previous year, however looking at the early dawn of summer, the demand is likely to pick up. Marketmen are optimistic about sugar prices going higher in anticipation of the early end of crushing season in Maharashtra & Karnataka.
The group sugar producing companies having more than one sugar producing unit may maintain the stock as defined in Para (1) of this Order, either unit wise or for the group as a whole. The sugar-mill wise February 2022 been worked out on the basis of the following parameters:
The March 2023 stock holding limit has been worked out on the basis of giving 100% weightage to the month end notional stock for the month of February 2023.
The notional month-end stock for the month of February 2023, has been worked out on the basis of month end stock for January 2023 (as reported on P-II) further adding the sugar lifted from sugar mills after 1st November 2022, for export as per 4.3 Column of P-II and subtracting subtracting actual release for February 2023.
Besides, incentive in lieu of sugar sacrificed for producing ethanol from B-heavy molasses/sugarcane juice/sugar syrup/sugar is being given corresponding to the ethanol production for January 2023.
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