Mills need to export more sugar without government incentives in 2021-22 to bring down inventories: Official

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A government official said that sugar mills in India need to export at least 6 to 7 million tonnes of sugar without subsidy to reduce inventories and ensure domestic prices remain firm despite surplus production, reported Reuters.

Speaking at a webinar Subodh Kumar Singh, joint secretary at the Department of Food and Public Distribution said, “Sugar mills should export more sugar to take benefits of increased sugar prices in the international market.”

He said, “In 2020-21, India has shipped a record 7.2 million tonnes of sugar and for the 2021/22 season, the mills have so far signed contracts to export 1.8 million tonnes.”

“The demand from top sugar buyers like Sri Lanka and Afghanistan has been lowered due to local issues and mills need to find new markets that were relying on Brazil,” he further added.

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