India News | India's Sugar Exports Touches USD 4.6 Bn in 2021-22

New Delhi, Apr 18 (PTI) India's sugar exports increased to USD 4.6 billion (about Rs 35,000 crore) in 2021-22 from USD 1.17 billion (about Rs 9,000 crore) in 2013-14, the commerce ministry said on Monday.

India exported sugar to 121 countries across the globe, it said.

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"The growth was achieved despite logistical challenges posed by COVID-19 pandemic in the form of high freight rates, container shortages," it added.

India had exported sugar worth USD 1.96 billion in 2019-20, and USD 2.79 billion in 2020-21.

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The key markets for the shipment included Indonesia, Bangladesh, Sudan and the UAE.

"India's sugar exports witnessed an astounding growth of 291 per cent from USD 1,177 million in 2013-14 to USD 4,600 million in 2021-22," it said.

India is the world's second-largest sugar producer after Brazil.

Uttar Pradesh, Maharashtra and Karnataka accounts for nearly 80 percent of the total sugar production in the country.

Since 2010-11, India has consistently produced surplus sugar, comfortably exceeding the domestic requirements, the ministry said.

"The record exports would enable the sugar producers to reduce their stocks and would also benefit the sugarcane farmers, as the increased demand for Indian sugar is likely to improve their realizations," it added.

The ministry further said that even after the record exports, the closing stocks at the end of sugar season 2021-22 (October – September) would be at a comfortable level of 73 lakh tonnes.

The government will continue to take all possible steps to maintain this upward trend in sugar exports, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)