December 7, 2023


Passion For Business

Mills have signed contracts to export 7 mt of sugar: Centre

Against the export goal of six million tonnes (mt), sugar mills have entered into contracts for about 7 mt in the present-day sugar period and around six mt of sugar have by now been exported, an formal assertion claimed on Thursday.

“Some sugar mills have also signed ahead contracts for exports in ensuing sugar period starting off October. Export of sugar has served in maintaining desire-provide stability and stabilising domestic ex-mill prices of sugar,” the assertion claimed.

In accordance to the assertion, issued by the Ministry of Client Affairs, Foods and Public Distribution, sugar mills bought sugarcane worth ₹91,000 crore in the present-day period ending September.

“In the present-day sugar period, sugarcane worth a file ₹90,872 crore has been bought by sugar mills and about ₹81,963 crore cane dues have been paid out to farmers. Only ₹8,909 crore cane arrears are pending as on August sixteen. Enhance in export and diversion of sugarcane to ethanol has expedited cane price tag payments to farmers, the assertion claimed.

Lasting remedy

In comparison, sugar mills bought sugarcane worth ₹75,845 crore in the earlier period.

To uncover a lasting remedy to deal with the difficulty of excessive sugar, the federal government is encouraging sugar mills to divert excessive sugarcane to ethanol which is blended with petrol. This not only serves as a eco-friendly gas but also will save overseas exchange on account of crude oil import.

The revenue produced from sale of ethanol by mills also can help sugar mills in clearing cane price tag dues to farmers. In 2018-19 and 2019-twenty seasons, about three.37 lakh tonnes (lt) and 9.26 lt of sugar, respectively, were being diverted to ethanol.

In the present-day sugar period, around twenty lt is possible to be diverted. In the ensuing sugar period, about 35 lt of sugar is approximated to be diverted, the assertion claimed, introducing that this could go up sixty lt by 2024-twenty five.