Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Apr 25, 2012

EGoM meet on sugar exports postponed

EGoM meet on sugar exports postponed
Analjit Singh, Non-executive Chairman, Vodafone India

The Empowered Group of Ministers (EGoM) meeting on sugar exports and other food related issues has been postponed, Food Minister K V Thomas said on Wednesday.

"The EGoM meeting has been postponed. The next date has not yet been decided," Thomas told reporters.


The EGoM, headed by Finance Minister Pranab Mukherjee, was scheduled to deliberate on allowing further shipment of
one million tonnes of sugar in 2011-12 marketing year (October-September).


The meeting was also to decide on modalities of sugar exports for one million tonnes, which the EGoM has already cleared.


The issue of allocating additional eight million tonnes of foodgrains to BPL families to clear storage space for new crop was also on the agenda, sources said.


The government has already allowed exports of 3 million tonnes of the sweetener in the current marketing year so far.


Of this notification has been issued for 2 million tonnes.


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, the International Sugar Organisation has pegged the production in the country at 25.8 million tonnes.


The domestic demand is estimated at 22 million tonnes annually.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search