An Empowered Group of Ministers (EGoM) on food is meeting today in New Delhi to decide on allowing more sugar exports, and lifting the ban on wheat exports. The government has allowed exports of one million tonnes of sugar so far this year in two equal tranches under the Open General Licence (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. Food Minister K V Thomas had earlier said that mills owe over 2,590 crore rupees to the farmers till May 15 of the current 2010-11 season (October-September). AIR correspondent reports, while Agriculture Ministry is in favour of soon allowing more exports, the food ministry wants to defer the decision till September by when it would come to know the actual closing stock of sugar in this season and will get a clear picture of likely production in the next season. The EGoM headed by Finance Minister Pranab Mukherjee is likely to take a call on the issue.
News On AIR | August 12, 2011 1:44 PM
EGoM meet to decide on more wheat, sugar exports