Sugar Exports of India: Giving great news to the sugarcane farmers, the central government has fixed the quota for sugar exports. This year, India will export a total of 60 million tonnes i.e. 60 lakh tonnes of sugar abroad. In such a situation, the government has greatly reduced the quota of sugar to be exported this year as compared to last year. The reason behind this decision of the government is that due to the shortage of sugar in India, its price should not increase. With this, inflation controlling steps can be kept under control in the country. It is worth noting that India is the largest sugar producing country in the world. After this, Brazil’s number comes at number two. This year the demand for India’s sugar was very high all over the world because this year the production of sugar in Brazil has been very less, but after this decision of the Government of India, the global market has suffered a major setback.
less than expected quota
Earlier, experts were expecting that the government would fix the quota of export of sugar at least 80 to 9 million tonnes this year, but in view of the demand for sugar in the domestic market, the government has reduced this quota. 60 lakh tonnes. In such a situation, it will help in controlling the price of sugar in the domestic market. If we talk about last year, the government had fixed the export quota of 11 million tonnes for the financial year 2021-2022, which has now been reduced to only six million tonnes. Explain that the financial year for export of sugar lasts from September to the next year till October.
The government can also decide the second quota
Let us tell you that on this matter, traders associated with the sugar industry say that this year sugarcane production in Brazil has decreased. In such a situation, there is a lot of demand for Indian sugar in the global market, but the government wants to keep the domestic price under control. In such a situation, traders already expected that the government would fix the quota of export of 50 to 60 lakh tonnes of sugar. However, this year sugarcane production in the country has been at a record level. In such a situation, it is expected that after this quota, the government can fix a new quota for export.
How much sugar will be produced in India this year?
According to media reports, about 36.5 million tonnes of sugar can be produced in India this year. In such a situation, the government has currently fixed the quota of 60 lakh tonnes till May 2023. In such a situation, traders are hopeful that after meeting the domestic needs, the government can announce the second consignment of sugar exports after May next year. This will also help in keeping the price of sugar in India under control.
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