With Brazil, Europe and Thailand lowering their production estimates, coupled with depreciation of the rupee, Maharashtra's sugarNSE 8.13 % industry has ramped up efforts to export 15 lakh tonnes of sugar till March.
With Brazil, Europe and Thailand lowering their production estimates, coupled with depreciation of the rupee, Maharashtra's sugarNSE 8.13 % industry has ramped up efforts to export 15 lakh tonnes of sugar till March.
The central government has also decided to take weekly review of sugar exports as the country plans to export total of 9 million tonnes of sugar in next two years. The government has given mill wise quota to export 50 lakh tonnes of sugar in 2018-19 and extended incentives of Rs 138/tonne of sugarcane. The government will also give transport subsidy for sugar export. Thus the total subsidy available for export of sugar will upto Rs 11/kg of sugar.
A meeting of all the sugar Miller's from Maharashtra, the merchant traders and central government officials was held in Mumbai on Saturday. In the marathon meeting that lasted three hours, Sharad Pawar, de facto leader of srare's sugar industry appealed the millers to grab the golden opportunity with both the hands.
"We can expect large number of export contracts being signed now," said Prakash Naiknavare, managing director, National Federation of Cooperative Sugar Factories.
It was decided that a government delegation will visit Thailand Indonesia Malaysia Brazil and China to tap markets traditionally served by Brazil and Thailand.
A committee of high level official will hold a review meeting every Friday at 4 pm to review the exports Industry stakeholders are confident that India will surpass it's earlier record of 29 lakh tonnes of sugar exported in 2005-06.
"There is a golden opportunity for India to export sugar as Brazil and Thailand have reduced their production estimate substantially while Australia will enter the export market only March onwards. The international market is all open for India," said Naiknavare, adding, "We will also have to export 40 lakh tonnes of sugar in 2019-20."
The central government has also decided to take weekly review of sugar exports as the country plans to export total of 9 million tonnes of sugar in next two years. The government has given mill wise quota to export 50 lakh tonnes of sugar in 2018-19 and extended incentives of Rs 138/tonne of sugarcane. The government will also give transport subsidy for sugar export. Thus the total subsidy available for export of sugar will upto Rs 11/kg of sugar.
A meeting of all the sugar Miller's from Maharashtra, the merchant traders and central government officials was held in Mumbai on Saturday. In the marathon meeting that lasted three hours, Sharad Pawar, de facto leader of srare's sugar industry appealed the millers to grab the golden opportunity with both the hands.
"We can expect large number of export contracts being signed now," said Prakash Naiknavare, managing director, National Federation of Cooperative Sugar Factories.
It was decided that a government delegation will visit Thailand Indonesia Malaysia Brazil and China to tap markets traditionally served by Brazil and Thailand.
A committee of high level official will hold a review meeting every Friday at 4 pm to review the exports Industry stakeholders are confident that India will surpass it's earlier record of 29 lakh tonnes of sugar exported in 2005-06.
"There is a golden opportunity for India to export sugar as Brazil and Thailand have reduced their production estimate substantially while Australia will enter the export market only March onwards. The international market is all open for India," said Naiknavare, adding, "We will also have to export 40 lakh tonnes of sugar in 2019-20."