India Said to Consider Additional Sugar Exports Next Week

By Pratik Parija and Prabhudatta Mishra - Apr 18, 2012
Bloomberg
India, the world’s second-biggest sugar producer, will consider allowing mills to export an additional 1 million metric tons next week, according to an official with direct knowledge of the matter.

A panel of ministers headed by Finance Minister Pranab Mukherjee will discuss the proposal at a meeting in New Delhi on April 25, said the official, who declined to be identified before an official announcement. Fresh exports are being considered because of a domestic surplus and to allow mills to raise enough cash to pay cane growers, he said.

The government has already permitted shipments of 3 million tons in the crop season that began Oct. 1 after production exceeded domestic demand for a second year.

N.C. Joshi, a spokesman for the food ministry in New Delhi, declined to comment when contacted today.