4.11 lakh tonnes of sugar exported during October-December 2014

NEW DELHI : India exported 4.11 lakh tonnes of sugar during October-December period of last year.

"At present, export of sugar is free without quantitative restrictions, subject to prior registration of quantity with the Directorate General of Foreign Trade (DGFT),"Minister of State for Food Raosaheb Patil Danve said in a written reply in Lok Sabha.

As per data maintained by the Directorate General of Commercial Intelligence & Statistics (DGCIS), Kolkata, he said about 4.11 lakh tonnes of sugar has been exported under different schemes during current sugar season 2014-15 (up to December 2014). Sugar years runs through October-September.

"The estimated carryover stock, production and demand of sugar during 2014-15 sugar season are 72.13 lakh tonnes, 265 lakh tonnes and 248 lakh tonnes,respectively," Danve said, adding the decision to allow free export of sugar was taken keeping in view the stock position and domestic demand of sugar along with other factors.

In order to encourage marketing and promotion services of raw sugar production, the minister said the government has decided to provide incentive of Rs 4,000 per tonnes for export of raw sugar in the current season 2014-15 limited to a quantity of 14 lakh tonnes.

Source : economictimes.indiatimes.com