Indian sugar mills association

Sugar mills seek removal of export cap

Date:	13 Mar 2012

Source:	The Business Line

Reporter:	NewsWire18

News ID:	993

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New Delhi, March 12: Indian Sugar Mills Association is likely to request the government soon to remove quantitative cap on sugar exports, Mr. Gautam Goel, President of the industry body, said on Monday. "In a day or two, we are writing to the government to allow sugar exports without any quantity cap, just like cotton," Mr Goel told NewsWire18, adding that local prices are down, that is why we are seeking this." Domestic sugar prices have fallen by about Rs 350 for 100 kg since December due to thin demand as bulk buyers have refrained from building inventories in a surplus season. The country is likely to produce 26 million tonnes (mt) in 2011-12 (October-September) against 24.3 mt last year, he said. The Directorate of Sugar has so far issued release orders for export of 86,039 tonnes from the second tranche of one mt.

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