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Synopsis
According to Praful Vithalani, chairman, All India Sugar Traders Association (AISTA), there will not be any major impact on the ongoing sugar exports as agreements for 57 lakh tonnes of sugar exports have been executed till May 19 nor there will not be any impact on domestic prices as these are controlled by the monthly release mechanism.
Agencies
According to trade estimates, the government will be able to save an outgo of Rs 60 crore of the sugar export subsidy.
The central government today slashed the amount of subsidy given for sugar export by one third from Rs 6000/tonne to Rs 4000/tonne. As the industry has completed export of 95% of the sugar export quota of 60 lakh tonnes, the decision will not have any major adverse impact on the country s sugar exports. The industry is confident about continuing exports under the open general license (OGL) category thanks to better realisation from exports.
Ethanol from B heavy molasses, sugar will help the industry, says Gadkari
May 17, 2021
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Massive surplus stock in Maharashtra can be used to produce ethanol and improve sugar mills’ financials
Against the backdrop of massive sugar production this season the sugar industry wants the government to buy ethanol produced by blending of sugar in B heavy molasses at a rate of ₹62.65 per liter.
Union Transport Minister Nitin Gadkari, who is also the MSME Minister, has recently submitted the proposal to the Centre and has asked the Maharashtra government to approach the Centre with a similar demand.
“There is a huge stock of sugar in Maharashtra. I have recently submitted a proposal and the Maharashtra government must pursue it with the Centre,” Gadkari said.