India exports nearly 29 lakh tonne sugar in 2019-20 mkt yr

India has exported 28.68 lakh of sugar so far in the current marketing year ending September on the back of assistance offered by the government to boost shipments, a trade association said on Monday. Sugar marketing year runs from October to September.

According to All India Sugar Trade Association (AISTA), mills have exported 28,68,533 tonne from October 1, 2019 till April 4, 2020. India exported sugar to 58 countries, but 65 per cent of the total shipments were to Iran, Somalia, Malaysia, Sri Lanka and Afghanistan. Mills have contracted to export 38 lakh tonne of sugar so far, AISTA said in a statement.

The government has allowed export of 6 million tonne of sugar under Maximum Admissible Export Quota (MAEQ) during the 2019-20 marketing year to liquidate surplus sugar in the global markets. In February, industry body ISMA had said that India's sugar export may cross 50 lakh tonnes in the marketing year ending September on higher demand.

The country had exported 38 lakh tonnes during the 2018-19 marketing year. The Centre has taken many steps in 2019-20 as well to help sugar mills clear cane dues.

It has created buffer stocks of 40 lakh tonne of sugar, costing Rs 1,674 crore to the exchequer. That apart, an assistance of Rs 6,268 crore is being provided to help mills export 60 lakh tonne of sugar. The government is also encouraging diversion of excess sugarcane and sugar to produce ethanol for blending with petrol.

According to the food ministry, the sugar production is estimated at 273 lakh tonne in 2019-20 as against domestic consumption of 260 lakh tonnes In the previous year, sugar output was 331 lakh tonne as compared to 259 lakh tonne domestic demand..