West Indian Sugar Mills Association (Wisma), a body of sugar millers in Maharashtra, has urged the central government to announce export policy for the next sugar year starting October 1, saying this will help millers sign forward contracts for raw sugar exports.
In a letter to food and public distribution minister Piyush Goyal, Wisma said announcing the 2022-23 sugar export policy in September will allow sugar mills to enter forward contracts and avoid a glut in the domestic market as the industry is expecting record production in the new season.
International market is currently favourable for Indian raw and white sugar, it added.
India had capped sugar exports in the current year as brisk pace of exports resulted in historically highest sugar exports, triggering fears of a price increase like it happened in the case of wheat amid overall high inflation.