Orders for export of Quantity 3.93 Lakh Tonnes sugar issued till date

The Sugar Directorate has said that the Union government has so far issued orders for release of 393,334 tonnes of sugar for exports under the Open General Licence Scheme (OGLS), an increase of 919 tonnes from June 9, when the last data was released.

According to the Directorate, 442 mills have been given permits to export sugar so far.

Last month, the government had decided to extend the time given to mills to apply for export release orders under the OGLS. Mills had been given time till June 2 to seek export permits, while merchant exporters could apply for release orders until June 17.

Exports are currently lucrative as global sugar prices have shot up in the past few weeks, due to crop concerns in Brazil and on port congestion, resulting in tight supplies in the world market.

Having touched a three-month high of $734.40 a tonne, the August white sugar contract on the London International Financial Futures and Options Exchange closed at $723.50 a tonne.