India to have surplus sugar stock next year: Pawar

India, the world's second largest sugar producer and the largest consumer, is expected to have a record sugar stock of 267 lakh tonne next year and may have at least 60 lakh tonne surplus left for exports.

"The likely sugar production would be around 227-230 lakh tonne," Agriculture and Food Minister Sharad Pawar said at a 'National Farmers Conclave' today.

With the 40 lakh tonne opening stock, he said, total sugar availability would be around 267 lakh tonne next year.

In India, sugar year runs from October to September.

The food minister said sugar consumption has remained around 185 lakh tonne for the last two years, while it would be around 195 lakh tonne this year.

"The only way to get rid of this excess stock, over and above consumption, is to sell the stock in international market," he said and added the exercise of selling the surplus stocks in global market can only ensure remunerative price to sugarcane growers.

The minister, however, clarified the status on lifting the ban on sugar exports would be announced in the Parliament.

The government imposed a ban on sugar exports in July this year to reduce inflationary tendencies in essential commodities such as wheat, pulses and sugar.

The ban is valid up to March 31, 2007, but the sugar industry favours an immediate lifting of the ban.