Government allows export of 2 million tonne of sugar

NEW DELHI: The Government has allowed export of two million tonne of sugar until the end of 2017-18 marketing year, in order to clear surplus stocks and improve cash flow to millers for making payment to sugarcane farmers. It has also allowed export of white sugar till September 2018 under the Duty Free Import Authorisation (DFIA) scheme, under which exporters are allowed to import sugar at zero duty within two years.

In its latest order, the food ministry has allowed export of two million tonne of all grades of sugar under the Minimum Indicative Export Quota (MIEQ) scheme in the current marketing year.

“In view of inventory level with the sugar industry and to facilitate achievement of financial liquidity, mill-wise MIEQ has been fixed for 2017-18 marketing year,” the order said.

Under MIEQ, it is mandatory to export the fixed quota, failing which the mills shall be deemed to be violating the directives of the Government, it said.

Farsana

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