Mills urge government to allow export of 8 million sugar under OGL next season

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Sugar mills in India have requested the centre to allow exports of 8 million tonnes of sweetener under the open general license (OGL) in the next season that starts from October 1, reports Financial Express.

According to the Indian Sugar Mills Association (ISMA), this would help the mills to sign export contracts in advance ahead of starting the season.

Aditya Jhunjhunwala, president of ISMA communicated with commerce minister Piyush Goyal and said that advance exports contracts would result in better cash flows and payment to farmers in the next season.

ISMA has also requested the government to allow sugar mills to export an additional 1 MT of sugar in the current season which will help mills fulfill their export commitments.

The government last month had imposed restrictions on sugar exports to ensure the availability of sweetener in the domestic market.

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