As I have published previously, after the review of Director General of Foreign Trade The Union government has decided to permit export of an extra five lakh tonnes (lt) of sugar under the open general licence (OGL).
Approved by the Empowered Group of Ministers (EGoM), headed by the Finance Minister, Mr Pranab Mukherjee, the move is a shot in the arm for the domestic industry as it will be able to take advantage of rising global prices.
Taking $ 725 or Rs 32,575 as the price of a tonne, free-on-board, the effective realisation for exports from Maharashtra, after taking away Rs 2,000 towards freight and handling expenses at Jawaharlal Nehru Port or Mumbai Port, would work out to Rs 30,575, which is more than the prevailing ex-factory price of Rs 25,000 a tonne on domestic sales in Maharashtra or Rs 27,000 in Uttar Pradesh.
Of the five lakh tonnes quota permitted earlier, the Directorate of Sugar has already allocated 4.26 lt to individual factories and issued release orders for 4.21 lt, in addition to the 51,500 tonnes allotted to neighbouring countries.
No comments:
Post a Comment