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India extends sugar export permit deadline
Posted by Labels: Export, India, Sugar
India has extended the deadline for mills and factories to apply for sugar export permits, the government said on Friday, a move expected to boost sluggish exports from the world's second biggest producer.
Factories wishing to export from their own sugar stock can apply for the permit until January 31, while those plan to export sugar bought from elsewhere can apply for the permit until February 15, it said.
India, the world's top consumer of the sweetener, has given permission for unrestricted export of 1 million tonne of sugar in the current sugar year that started in October and had asked mills to apply for the permit before mid-January.
Trade sources said of the total, approval has been given for about 400,000 tonnes of exports so far.
Mills in India produced 7.6 million tonnes of sugar between October 1 and December 31, up 1.1 million tonnes from the year-ago period.
Output is estimated at 25 million tonnes in the 12 months starting October 1, 2011, higher than the annual demand of about 22 million tonnes.
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