Indian sugar mills association

EGoM may meet on Nov. 21 to de

Date:	17 Nov 2011

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News ID:	696

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NEW DELHI: An empowered group of ministers (EGoM) on food is likely to meet on November 21 to decide on allowing sugar exports for this marketing year that started last month, Food Minister K V Thomas said today.

"The EGoM will meet next week. The Finance Minister Pranab Mukherjee (who heads the EGoM) has given the date of November 21 for the meeting," Thomas told PTI.

The panel would consider proposals such as the sugar export policy in the meeting, he added.

Although Thomas did not disclose the quantity of export that the government would allow on November 21, sources said that the food ministry has proposed export of 5 lakh tonnes of sugar initially under the open general licence (OGL) scheme.

Meanwhile, Agriculture Minister Sharad Pawar also said that issue of sugar exports will be discussed in the EGoM on November 21.

The industry has been demanding export of 4 million tonne of sugar in the 2011-12 marketing year (October-September) as the country`s production is estimated at 25-26 million tonnes against an annual domestic demand of 22 million tonnes.

In last marketing year, the government had allowed 2.6 million tonnes of sugar exports, of which 1.5 million tonnes were under OGL in three equal tranches.

The industry is seeking early decision on sugar exports policy as the global prices are softening and further delay in announcing the policy would make exports unviable.

Sugar production in India - the world`s second largest producer and biggest consumer - rose to 24.3 million tonnes in 2010-11 from nearly 19 million tonnes in the previous year.

In this marketing year, the government has pegged output at 25 million tonnes, while the industry estimates the production at 26 million tonnes.

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