AgroStar Krishi Gyaan
30 Oct 19, 01:00 PM
Sugar factories have huge opportunities for export
Pune - China is keen on importing raw sugar from India and a recent Chinese delegation has signed an agreement to import 5,000 tonnes of raw sugar in Delhi. Another 10-member delegation from China is coming to Delhi on November 9 at the office of the Federation of National Co-operative Sugar Factories. With China's requirement of at least three lakh tonnes of raw sugar, there is a huge opportunity for export contractors, co-operatives and private sugar factories.
Managing Director of Sugar Federation Prakash Naiknavre said that the export of sugar would be based on global market price while exporting sugar. Currently, if raw sugar is to be exported, it will cost Rs 1950 to Rs 2000. The profit will belong to the factories. Apart from this, the cost of sugar will be minimized and the interest rate to the banks will be saved benefitting all the parties.
In addition, the Union Government has allowed export of 3 lakh tonnes of sugar. Since its inception on October 1, it is recommended that interested factories attend the FNCCI office at the meeting of China and India's sugar export agreement on November 7.
Source: Pudari, 28th October 19
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