Or consider increasing the export quota of sugar again
July 1st News from Dow Jones New Delhi, Food Minister KV Thomas said on Thursday that taking into account the current situation, if the domestic price stabilizes, the Indian government may allow more sugar to be exported.
Last week, the Indian government had agreed to increase its export quota by 500,000 tons in the sugar-making year that ended in September. In April, it allowed the export of a small portion of sugar.
A Mabang trader stated that the price of sugar in the Vashi spot market was around Rs 27,464/t. Mabang is the largest sugar producing country in India. Above the quota allowed for export, the Mabang sugar factory requires the export of more than 2 million tons of sugar.
It is estimated that 10-11 years of sugar production in India is expected to produce 24-20,450 million tons of sugar, with a supply or surplus of 250-300 million tons of sugar.
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