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Answer Detail
GOVERNMENT OF INDIA
MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION
RAJYA SABHA
QUESTION NO 370
ANSWERED ON 19.12.2011
Export of sugar
370 . SHRI SHIVANAND TIWARI
Will the Minister of CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION be pleased to satate :-
(a)
whether it is a fact that the Government has allowed the export of 10 lakh tonnes of sugar in the very beginning of the crushing season;
(b)
if so, the details thereof;
(c)
whether it is also a fact that following this decision, the prices of sugar in the international market have depreciated whereas the same have appreciated in the domestic market; and
(d)
if so, the facts in this regard and the sugar stock in the country at the time of giving permission of its export?
Answer
(a) to (d)
A Statement is laid on the Table of the House. ****
STATEMENT REFERRED TO IN REPLY TO PARTS (a) to (d) OF STARRED QUESTION NO. 370 DUE FOR ANSWER ON 19.12.2011 IN RAJYA SABHA
(a) & (b)
Taking into account the opening stock, likely sugar production and domestic demand, the Government has allowed export of upto 10 lakh tons of sugar during sugar season 2011-12 under Open General Licence on 22.11.2011.
(c) & (d)
The prices of sugar in the domestic market depend upon various factors like production, carried over stock, domestic demand, international prices of sugar and market sentiments etc. The international prices of sugar are influenced by factors like fluctuations in sugar production, movements in related markets like petroleum market, macro economic developments like investment in commodities trade and fluctuations in the financial market etc. As such, it is not possible to indicate the impact of the decision to export alone, on international and domestic prices. During the period from 23rd November, 2011 to 14th December, 2011, the future prices of sugar in international market quoted for March, 2012 delivery, as per Euronext.com & Liffe.com, fluctuated between US$ 597.70 per MT to US$ 625.40 per MT as against US$ 613.90 per MT on 22.11.2011, i.e. the date on which the decision of export was taken. During the same period, the all India average price of sugar in the domestic market has fluctuated between Rs.33.52 per kilogram and Rs.34.60 per kilogram as against Rs.33.46 per kilogram on 22.11.2011. The sugar stock in the country, as on 31.10.2011, was estimated at 36.59 lakh tonnes.
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