Indian sugar mills association

Sugar Hits 2- Month High Pawer

Date:	22 Jun 2011

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News ID:	580

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New Delhi: Agriculture minister Sharad Pawar has written to Prime Minister Manmohan Singh urging him to allow further export of sugar, as India has only one month to encash on high global prices, sources said on Tuesday. Meanwhile, sugar rose to a two-month high on Tuesday as shipping delays mounted in Brazil, the world’s biggest exporter. Backlogs of sugar shipments from Brazilian ports are expected to last an additional 20 to 30 days, according to Datagro, an industry researcher. Last week, futures in New York climbed 3.4%, the sixth straight gain. In April, the government had allowed 5,00,000 tonne of exports under Open General Licence (OGL), which means shipment without any restrictions. However, the industry, last week, demanded to allow export of additional 1.5 million tonne in view of higher domestic output this year. In the letter, Pawar has noted that there is a case for more export of sugar as domestic production is... Single Page Format 1 - 2 - 3 - Next

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