Sops for Sugar Cos may be Revised on Global Cues

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24 August 2021, New Delhi: As international sugar prices recover, boosting the prospects of India’s sugar exports as well as the domestic sugar prices, the government is expected to revise policies related to incentives given to the sugar sector in the sugar season beginning October1. Instead of giving subsidy for sugar exports, which have now become lucrative, the government is likely to increase ethanol procurement prices, industry leaders said.

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“Production in the current sugar season in Brazil has been badly affected by extreme weather conditions caused by drought followed by frost, indicating a global sugar deficit. The next sugar season in Brazil would commence in April 2022. Sources said sugar production in Thailand is likely to remain high but Thai sugar would arrive in the market only after January, 2022. Thus, Indian sugar mills have a good opportunity to export their surplus sugar between the period from August 2021 to January 2022,” an advisory note said.

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