Maharashtra sugar mills body urge govt to announce export policy for next season

Mumbai, Sept 6 (KNN) Announcing the 2022-23 sugar export policy in September will allow sugar mills to enter forward contracts and avoid glut in the domestic market as the industry is expecting record production in the new season, said West Indian Sugar Mills Association.

WISMA in a letter to the Commerce Minister Piyush Goyal has urged the government to announce export policy for the next sugar year starting October 1, reported ET.

International market is currently favourable for Indian raw and white sugar, it added.

India had capped sugar exports in the current year as brisk pace of exports resulted in historically highest sugar exports, triggering fears of a price increase like it happened in the case of wheat amid overall high inflation.

As per reports, India is all set to allow sugar exports in two tranches for the next season beginning in October, as the world's biggest producer of the sweetener tries to balance the interests of its farmers and consumers.  (KNN Bureau)