| "We have no subsidy plans for sugar exporters as of now," said a senior official of the department of food and public distribution. |
| The department monitors and implements various policies of the government on sugar and other commodities. |
| As falling global sugar prices have rendered exports unattractive, the government could give export subsidy in the form of transport assistance, agriculture minister Sharad Pawar had indicated on January 5. |
| Meanwhile, the directorate of sugar under the ministry of food has received proposals for issue of export permits of 1lakh tonne under the advance licence scheme. |
| "We have issued permits of about 37,000 tonne to companies such as Renuka sugar, some south-based mills and private exporters", said a directorate official. |
| Meanwhile, sugar stocks continued to be bearish, falling consecutively for five days after the government lifted the ban on sugar exports. |
| While most stocks gained 4-6 per cent on the day after the ban was lifted, most of them have lost 5-7 per cent this week. |
| Bajaj Hindusthan, for instance, had risen from Rs 201.55 to Rs 209.60 on the day following the ban withdrawal. However, today it closed at Rs 198.80. |
| "Unless, sugar prices don't recover, both nationally and overseas, stocks will continue to underperform and may remain rangebound for the entire 2006-07 (October-September) season," said Vikram Suryavanshi of Karvy Stockbroking. |
| Even the Petroleum Minister's announcement today to increase ethanol blending in petroleum to 10 per cent from 5 per cent failed to cheer sugar stocks. |
| Triveni Engineering and Industries, a leading sugar producer declared its third quarter results yesterday that showed a decline of 12 per cent in the revenues from sugar business. |
| Domestic sugar continued to trade at Rs 1520-25 a quintal even after the withdrawal, while international prices have declined from $330 a tonne to $326. |
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