New Delhi: Two weeks after the Government of India allowed one million tonnes of sugar exports, negligible quantities have been exported from the country. The reason for this is that sugar mills are reportedly demanding a higher price than local prices.
One reason for the recession in sugar export trade is that sugar mills are expecting high prices. Domestic sugar prices have increased due to low estimates from various Chinese productive unions. However, on the other hand there has been a decline in export trade, and many sugar mills are selling export licenses at a price of more than Rs 44,000 per ton. About three lakh tonnes of sugar has been exported, out of which about 2.3 lakh tonnes have been exported by the mills of Uttar Pradesh. It is believed that Maharashtra, Karnataka and other states have traded about 70,000 tonnes of export.
The domestic value of sugar has now increased to Rs 41,000 per tonne. Therefore, it is discovered that mills are struggling to get more than Rs 45,000 for exports. The price of white sugar for March delivery in London is being reported as $ 519.90 per ton. Whereas raw sugar at New York -based Intercontinental Exchange (ICE) is 19.27 cents per pound (Rs 37,345 per ton). Sources say that Indian traders are paying a high price of $ 530 per tonne in the global market. Along with this, 1.5 lakh tonnes of sugar has been exported to Bangladesh, Nepal, Tanzania, Sri Lanka and Dubai. It is noteworthy that in the estimates of sugar production by various associations, the Indian Chinese and Bio -Energy Manufacturers (Isma) have estimated 27.27 million tonnes and the All India Chinese Traders Association has estimated 26.52 million tonnes. The National Cooperative Chinese Factory Association has estimated 27.1 million tonnes.
