ISMA urges govt to permit sugar export of 1 million tonne this season

Indian Sugar Mills Association (ISMA) has requested the government to allow the export of 10 lakh tonne of sugar in the current 2023-24 season, anticipating healthy closing stock by the season-end.

Sugar production has reached 302.20 lakh tonne till March of the current season against 300.77 lakh tonne in the year-ago period, it said in a statement.

The sugar season runs from October to September. Currently, there are curbs on the export of sugar from the country.

In mid-March, ISMA revised its net sugar production estimate for the 2023-24 season to 320 lakh tonne.
 

"In light of the above, ISMA has requested the government to permit the export of 10 lakh tonne of sugar in the current season," ISMA said.

The request for export suggests a careful balance between meeting domestic consumption needs, sustaining the Ethanol Blending Program (EBP) and leveraging surplus for export opportunities, it added.

The industry body said weather forecasting agencies have predicted a normal to above-normal South West monsoon for the year 2024. Consequently, a moderate crushing season is expected in the 2024-25 season.