In the ongoing 2020-21 crushing season, India has signed contracts to export over 25 lakh tonnes of sugar, informed the Indian Sugar Mills Association (ISMA).
The association issued a statement stating that so far seven lakh tonnes of sugar has been exported physically from October 1, 2020 to January 31, 2021. This includes the exports allocated for the year 2019-20 against the Maximum Admissible Export Quota (MAEQ) that was extended till December 2020.
About four lakh tonnes had been exported under the current year’s export policy. As per the information from the trades, export contracts for around 25 lakh tonnes of sugar have been signed so far.
According to the ISMA, this is a very encouraging trend, considering that only 45 days have passed since the export quota were announced on 31st December’ 2020 for the current season. Substantial part of the contracted exports are for Indonesia. Once the clarification sought from Ministry of Commerce for exports to Iran is received, India will see many more export contracts happening very quickly. Ministry of Commerce will be issuing clarification very soon on exports to Iran.