Export of sugar approved by Govt

NEW DELHI: The Government of India has allowed export of five lakh tonnes of sugar to enable mills to benefit from high global prices. The government has also increased the levy sugar price by 5.09 percent to Rs1,847.05 per quintal from Rs 1,757 per quintal in 2009.

“Export of sugar will be linked to production and the department of food and public distribution will monthly assess the situation and take a call on whether further exports could be allowed,” food and agriculture minister Sharad Pawar said at the 76th annual general meeting of Indian Sugar Mills Association (ISMA).

India’s sugar production is estimated at about 24.5 million tonnes in 2010-2011, while sugar consumption is estimated at about 23 million tonnes.