The government allowed additional one million tonnes of sugar exports in view of surplus production. The move will help mills clear mounting cane arrears, that have reached 8,409 crore rupees till February, to farmers. The decision to allow exports was taken yesterday by an Empowered Group of Ministers, EGoM, headed by Finance Minister Pranab Mukherjee. The sources said that the food ministry will frame new modalities for expediting sugar exports as the country has 1.64 million tonnes of surplus sweetener. The EGOM also decided to continue exports of wheat and non-basmati rice, which was allowed under Open General Licence in September last year, on record production.India is the world's second-largest producer of sugar and is also the biggest consumer.
News On AIR | March 27, 2012 12:59 PM
Govt allows export of one million additional tonnes of sugar