According a major announcement made the Farm minister recently, it has been learned that the country is looking at allowing the sugar exports after the festive season in the month of November.

According to the announcement, the government may allow the millers sell a small proportion of their production level at a low and state-set rate. It is to be mentioned here that the announcement has come up in the wake of the production levels rising by one-third. It may be noted here that India is the largest sugar consumer and the second largest producer of the same.

The Farm Minister Sharad Pawar recently said that the government will assess the supply situation of sugar as a commodity after the Diwali season and may allow exports.

Moreover Pawar also mentioned the fact that the producers will have to sell only 10% of their total output at a low, state-set rate which is down from the current level of 20%.

The move if finalised by the government is expected to give the market an extra 2.5 million tonnes of sugar to the market and India may jump back to its position of being an exporter after being a buyer for the past two years.