Sugar industry urges Centre
to come up with export policy
Photo Credit: Twitter

In view of excess sugar production and less sugar consumption in the country, the sugar industry has appealed to the Centre to urgently announce a policy for export of 60 lakh tonnes. During the sugar season 2019-20, India has posted a record sugar export of almost 60 lakh tonnes and created new markets by establishing Indian brands.

The industry argues that all these positive efforts will go waste in case India withdraws from international trade. On the other hand, Brazil with 100 lakh tonnes of excess sugar production, and Australia would take full advantage of India’s absence and thereby close its doors for future entry in the global markets.

The National Federation of Cooperative Sugar Factories MD Prakash Naiknavre told Free Press Journal, "There is no other alternative than to announce the new sugar export policy with the subsidy which is WTO compatible.

India is already having a huge inventory of sugar due to which the industry is feared to vertically collapse.

India has started the crushing season for 2020-21 with an opening stock of 107 lakh tonnes and expected to produce 311 lakh tonnes of new sugar bringing total availability to 418 lakh tonnes. The industry further said with the plateaued domestic consumption of 260 lakh tonnes, there is a dire need of pushing at 50-60 lakh tonnes out of the country failing which India will close the season with the highest ever closing stock of 158 lakh tonnes.

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Free Press Journal

www.freepressjournal.in