India has exported 29.95 lakh tonnes (LT) of sugar during the first ten months of the current fiscal that is valued at $194 million, Parliament was informed today.
The country had export 19.55 LT of sugar in 2014-15 fiscal valued at $103.93 million.
"At present, export of sugar is free without any restriction. The government is not promoting its export with a view to expand sugar mills in the country," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to Parliament.
However, with a view to reduce the inventory pressure on domestic sugar prices, the government has fixed Minimum Indicative Export Quota (MIEQ) for each mill for sugar season 2015-16 so as to evacuate surplus stocks, she said.
The minister also informed that the Indian Missions located in target countries have been requested to pursue various trade opportunities with a view to evacuate surplus sugar.
Trade delegations have also been mounted to some of the important destination countries, she said.
According to industry body Indian Sugar Mills Association ( ISMA), the country's sugar production rose 2 per cent to 19.94 million tonnes(MT) during the first five months of the current marketing year (October-September).
Sugar output of India, the world's second-largest producer and biggest consumer, is estimated to decline to 26 MT in 2015-16 marketing year as against 28.3 MT in the previous year due to deficit rains.