To accelerate the Indian sugar exports, which started with the beginning of last sugar season and ease the cash flow pressure of Indian sugar mills, the Government recently announced an sugar export policy.
It was anticipated that the exports of sugar would commence after witnessing the Hindu festival Diwali, however to a surprise sugar millers from Maharashtra have already kicked off the exports.
According to sources, sugar mills in Maharashtra have started exporting from the 1st day of October 2019. The demand has been driven from Asian and African countries. The ex-factory prices of the ranged between Rs.20,600 to 20,800 trades taken places were of 20,000 metric tonnes to Sri Lanka, Yemen & Somalia.
Sugar mills across the nation have already started gearing up for exports as it would rope in financial assistance from the Government and ease the financial burden and tall stockpiles. However, according to a notification dated 12th September 2019 the Department of Food & Public Distribution notified that the sugar mills to become eligible to get assistance would be required to export sugar at least 50% of its Maximum Admissible Export Quantity (MAEQ) determined by the Central Government. The Government announced assistance of Rs.10,448/MT for exports of sugar.
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