India, the world's second-largest sugar producer and largest consumer, may decide on allowing more sugar exports after September, Food Minister KV Thomas said today.
"We are not in a hurry at all [for more sugar exports] as global prices are likely to remain steady until January," Thomas said.
The country is likely to have 5.9-6 million tonnes of stocks at the start of the next sugar season, beginning October 1, which will be sufficient to meet peak festival season demand, he said.
Thomas also said the government might consider allowing additional sugar exports after September when the current sugar year comes to an end. The sugar year runs from October to September.
Yesterday, cooperative sugar factories body National Federation of Cooperative Sugar Factories (NFCSF) had sought the government's permission for an extra 500,000 tonnes of sugar exports to cash in on high global prices.
The government has so far allowed 2.2 million tonnes of sugar exports this sugar year, out of which 1 million tonnes was allowed under Open General Licences.
Sugar exports have been permitted as domestic output is exceeding demand. India's sugar production in the 2010-11 sugar year is expected at 24.5 million tonnes, while demand is likely to remain at 22-22.5 million tonnes.
