Jan 5, 2007

Govt likely to lift sugar export ban

India is likely to completely lift a ban on sugar exports within the next 20 days, Farm Minister Sharad Pawar said on Friday, with a bumper crop expected in the year to September. India, the world's second largest sugar producer and biggest consumer, is likely to produce 23-24 million tonnes of sugar in the sugarcane crushing season that ends in Sept 2007, the minister said.
The cabinet is likely to take up the issue of free sugar exports soon. I do not think it will take more than 20 days to complete the procedures of completely lifting the sugar export ban," Pawar said.

The cabinet is likely to take up the issue of free sugar exports soon. I do not think it will take more than 20 days to complete the procedures of completely lifting the sugar export ban," Pawar said.

He added total availability of sugar would be 27 million tonnes this season, with carry over stocks from the last crop year of about 4 million tonnes. Output was 19.3 million tonnes in the last season.

A total ban on exports was announced in July as domestic retail prices rose and the restriction was due to run until the end of the financial year in March.

In December India said it would allow mills which had imported raw sugar with an obligation to re-export it within a specified time period to begin sales.

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