PUNE: Indian sugar mills have traded 8.3 lakh tonnes of sugar, if the 50 lakh tonne that they have to export during 2018-19 sugar season with Uttar Pradesh accounting for more than half of the contacts, said traders at a conference organised by All India Sugar Trades Association (AISTA).
Most of the 8.3 lakh tonnes of sugar contracted for export is raw, said traders. Of the 4.5 lakh tonnes contracted by UP mills, about 2 lakh tonnes are on account of third party contracts.
In third party contracts, sugar mills sell their mandatory minimum indicative export quota (MIEQ) to traders/trade houses, who can buy sugar against such quota from anywhere they want.
Source : DST