An Empowered Group of Ministers (EGoM) on food today decided to export an additional 5 lakh metric tonnes of sugar under the Open General Licence (OGL). AIR correspondent quoting official sources reports, the EGoM headed by Finance Minister Pranab Mukherjee also took a decision to reduce the minimum export price of non basmati rice from 850 dollar metric tonne to 600 dollar per metric tonne . The government has allowed exports of one million tonnes of sugar so far this year in two equal trances under the OGL. The industry has been demanding that the government allow another one million tonnes of sugar exports considering the huge surplus stock and higher global prices. Almost all political parties from Maharashtra are demanding more exports so that mills can make payments to sugarcane farmers.
News On AIR | August 12, 2011 8:34 PM
EGoM approves export of additional 5 lakh tonne sugar