EGoM meet tomorrow to decide on allowing more sugar exports
The Empowered Group of Ministers (EGoM) is scheduled to meet tomorrow to discuss allowing further exports of sugar and allocating additional foodgrains to BPL families for clearing storage space for new crop.
New Delhi: The Empowered Group of Ministers (EGoM) is scheduled to meet tomorrow to discuss allowing further exports of sugar and allocating additional foodgrains to BPL families for clearing storage space for new crop.
The EGoM, headed by Finance Minister Pranab Mukherjee, will also discuss the modalities of allocating export quota among sugar mills. The panel would also consider allocating an additional 8 million tonnes of foodgrains to BPL families to ease pressue on storage.
"The meeting of the EGoM is scheduled for tomorrow to discuss further sugar exports," a Food Ministry source said.
The government has already allowed exports of 3 million tonnes of the sweetener in the 2011-12 marketing year (October - September) so far. However, notification for shipment of 2 million tonnes has been issued so far.
India, the world's second-largest producer and biggest consumer, had exported 2.6 million tonnes of sugar in the 2010-11 marketing year.
As per the sugar industry, there is more scope for exports of sugar in the current marketing year on account of increased production.
According to government estimates, the country is expected to produce 25.2 million tonnes of sugar in the current marketing year.
While, private sugar industry body Indian Sugar Mills Association has estimated the output at 26 million tonnes in the current season, while the International Sugar Organisation has pegged the production at 25.8 million tonnes.
The domestic demand is estimated at 22 million tonnes annually.