Delay in reallocation of sugar export quota for 2019-20 worries industry, trade


PUNE: Sugar mills and traders are waiting for reallocation of the export quota for 2019-20 sugar season that ends on September 30. Industry has demanded release of the export incentives to enable payment of sugarcane to the farmers.

“The reallocation of sugar export quota has been delayed. As a result, we could not export sugar in July,” said Abhijit Ghorpade, a sugar broker from Maharashtra.

The Union government under the Maximum Admisdible Export Quota (MAEQ) scheme, allocates mill wise sugar export quota. The mills who fail to use tMaximum Admissible Export Quotaheir quota within the given deadline, have to surrender it to be reallocated to the mills who fulfill their quota obligations.


India has allocated 60 lakh MAEQ quota for sugar marketing year 2019-20.

The sugar industry is also worried about delay in release of export incentives. According to the Uttar Pradesh Sugar Mills Association, the total export incentive dues of the Uttar Pradesh mills with the central government are Rs 1871.11 crore for 2019-20 and Rs 167.17 crore for 2018-18. The total dues of buffer stock and soft loan scheme of Uttar Pradesh are Rs 2327 crore.

Source link

Articles You May Like

U.S. reports more than 71,600 new cases as hospitalizations rise
Mario Gabelli sees ‘extraordinarily good’ U.S. economic growth in 2021
Goldman clawing back millions from David Solomon, Lloyd Blankfein over 1MDB scandal
Traders worry vaccine complacency is the new risk to the market
Stock futures rise as stimulus talks continue, Netflix shares fall after earnings miss

Leave a Reply

Your email address will not be published. Required fields are marked *