India extends sugar export by another year
The decision will be effective when the government issues a formal order. India will soon take a decision on the recommendation made by an expert panel over lifting curbs on the sugar industry, Thomas added.
New Delhi: India, which is set to produce sugar surplus for a third year in a row, has decided to allow exports under open general licence scheme (OGL) for one more year, Food Minster KV Thomas told reporters on Monday.[caption id="attachment_491120" align="alignleft" width="380"]
Food Minister, KV Thomas. Image courtesy PIB[/caption]
The decision will be effective when the government issues a formal order. India will soon take a decision on the recommendation made by an expert panel over lifting curbs on the sugar industry, Thomas added.
India is likely to produce 23.5 to 24 million tonnes of sugar in the 2012-13 crop year that started on 1 October, against the local demand of about 22.5 million tonnes.
Reuters
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