AgroStar Krishi Gyaan
26 Jan 19, 01:00 PM
Krishi VaartaOutlook Agriculture
Indonesia & Malaysia to Import Sugar from India!
Alarmed by the growing dues of farmers, the central government wishes to increase the export of sugar, in view of its bumper production. Indonesia and Malaysia have shown interest in importing sugar from India; however, the condition of duty deduction on palm oil has been laid down.
The Ministry of Food, the Ministry of Foreign Affairs, and the Ministry of Commerce are discussing reductions in duty on imports of palm oil so that Indonesia and Malaysia can import about 11 to 13 million tonnes of sugar. In the current crushing season, approximately 6.5 lakh tonnes of Chinese exports were made, although the central government allowed the export of 5 million tonnes.
The Union Government is exploring the possibility of sugar exports to China, Bangladesh, Sri Lanka, Indonesia, and Malaysia for which teams have been sent to these countries. China has already imported sugar from India in the past; Bangladesh and Sri Lanka are also trading.
Sugar Availability in the Country
According to the Indian Sugar Mills Association (ISMA), total sugar production is estimated at 320 million tonnes, during the current crushing season 2018-19. The total availability of sugar from the outstanding stock will be 427 lakh tonnes. The annual sugar consumption in the country is between 255 and 260 lakh tonnes. In this case, abundant sugar is available in the domestic market. Despite the concession from the Centre, only limited quantities were exported in the world market because of the low prices.
Source - Outlook Agriculture, 18 January 2019