 "From the 2018-19 sugarcane season starting October, the Centre not only increased the base recovery rate from 9.5 to 10 per cent, but also raised the premium extra yield in sugar from Rs 2.68 per quintal to Rs 2.75 a quintal")
India is all set to miss the Minimum Indicative Export Quota (MIEQ) of sugar for the season 2018-19 if contracts signed for shipment in October – December quarter any indication.
Of the 1.25 million tonnes of average MIEQ quota set for the October – December 2018 quarter, sugar factories have contracted for a mere 600,000 tonnes and exported only 246,000 tonnes so far this quarter. Interestingly, sugar mills had exported only 400,000 tonnes of 2 million tonnes of quota fixed for 2017-18, achieving thereby only 20 per cent of the set quantity and missing by 80 per cent.
Sugar factories face several
