In a significant move for the sugar industry, the government has approved the export of 10 lakh metric tonnes (LMT) of sugar, a government source revealed to CNBC TV18. This decision comes after officials reviewed the country’s sugar production estimates and current stock levels during a high-level meeting.
This report is expected to influence sugar stock prices positively. Investors and stakeholders in the sugar industry will be closely monitoring the formal notification and its potential impact on global trade.
According to the media report, a formal notification detailing the export policy specifics is expected soon. It will outline batch allocations and volume distribution for the approved export quantity. This clarity will help stakeholders plan their operations effectively and capitalize on international market opportunities.
The move aims to balance domestic sugar reserves while providing much-needed relief to millers and exporters.
