India’s food ministry could reportedly liberalise exports of sugar – allowing domestic companies to take advantage of escalating global sugar prices.
Sugar producers who do not import raw sugar may now be given permission to export, reported the Dow Jones Newswires. At the moment only sugar mills importing raw sugar without paying customs duty are allowed to export an equivalent quantity of refined white sugar in the country.
“When there is a surplus we should try to maximize exports,” Indian food minister Sharad Pawar told reporters at a seminar on on-line trading of farm products, according to Dow Jones. “A decision will be taken in around 10 days.”