India’s sugar exports elevated to USD 4.6 billion (about Rs 35,000 crore) in 2021-22 from USD 1.17 billion (about Rs 9,000 crore) in 2013-14, the commerce ministry mentioned on Monday.
India exported sugar to 121 international locations throughout the globe, it mentioned.
“The growth was achieved despite logistical challenges posed by COVID-19 pandemic in the form of high freight rates, container shortages,” it added.
India had exported sugar price USD 1.96 billion in 2019-20, and USD 2.79 billion in 2020-21.
The key markets for the cargo included Indonesia, Bangladesh, Sudan and the UAE.
“India’s sugar exports witnessed an astounding growth of 291 per cent from USD 1,177 million in 2013-14 to USD 4,600 million in 2021-22,” it mentioned.
India is the world’s second-largest sugar producer after Brazil.
Uttar Pradesh, Maharashtra and Karnataka accounts for practically 80 % of the full sugar manufacturing within the nation.
Since 2010-11, India has persistently produced surplus sugar, comfortably exceeding the home necessities, the ministry mentioned.
“The record exports would enable the sugar producers to reduce their stocks and would also benefit the sugarcane farmers, as the increased demand for Indian sugar is likely to improve their realizations,” it added.
The ministry additional mentioned that even after the report exports, the closing shares on the finish of sugar season 2021-22 (October – September) could be at a cushty stage of 73 lakh tonnes.
The authorities will proceed to take all doable steps to keep up this upward development in sugar exports, it added.
Source: www.financialexpress.com”