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New Guidelines for Sugar Exports 2022-23

    8 November , 2022         Fdiindia

New Guidelines for Sugar Exports 2022-23

While the government had already allowed 6 million tons worth of sugar to be exported for the year 2022-23, they have further released the guidelines that would drive the sector during the season. The guidelines have informed the chief executive officers and managing directors of the mills via a statement that the government would allow the export of sugar up to a reasonable limit till October 31.2023. The government has already devised a mill-wise export quota of 6 million tons for the exports of 2022-23

The stipulated Export Quota of 6 million tons has been ascertained by considering the average sugar production achieved by sugar mills in the last three production seasons. The released guidelines also allowed exports amounting to a range of about 18.3 % of their estimated sugar production of the year. These limits would then be verified by a respective cane commissioner.

Further, according to the guidelines, the mills can export a quantity of sugar either by themselves or through exporters or through refineries who would buy the product in bulk for exports. For those mills which are not able to dispatch 90 percent of their export quota by May 31, 2023, 30 percent of the un-exported quantity out of their allocated quota would be deducted from their monthly domestic quota of July/August 2023.

The guidelines issued also stipulated that the mills could exchange their export quota with the domestic quota of any other sugar mill within 60 days from the date of the issuance of this order. Custom authorities would also check that the sugar being exported is under adherence to the quota allocated to the mills. However, in the case of group sugar mills, sugar can be exported from any group mill by furnishing a bi-partite/tri-partite agreement between the source sugar mills on whose reproduction the export quota has been calculated.

The newer guidelines would help tighten the bridle upon the exporters, who would now only be allowed to export quota quantity allocated to sugar mills. Moreover, no exporter or refinery under any circumstances would be allowed to buy sugar from the open market to export.

Some of the most prominent importers countries of Indian sugar in the global arena are

United States – 510.87 INR Billion

United Arab Emirates – 183.70

Netherlands - 133.18

Singapore - 119.78

South Africa – 86.94

China- 84.18

Saudi Arabia – 83.88

Hong Kong – 72.05

Germany – 64.03

Brazil – 61.85

France - 56.52

Nigeria – 55.64

Nepal - 51.69

Belgium – 51.61

Italy - 50.76

Indonesia – 46.22

Japan – 41.70

Thailand – 41.54

The stipulated rules and regulations according to the new guidelines would help bring stability in the market, where attempts to export more than necessary for the increased revenue would be curbed. Plus, the guidelines also put forth a restriction on the reselling and exporting of local sugar production. The new guidelines have also detailed how the smaller mills can form a bi-partite or Tri partite system for a more systematic approach to exporting the stipulated amount of goods. How these new guidelines would bring changes in the market is yet to be seen.

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