8-Potential Enforcement Of Sugar Stock Declaration By Centre To Ensure Year-Round Availability

1. Potential Enforcement Of Sugar Stock Declaration By Centre To Ensure Potential Enforcement Of Sugar Stock Declaration By Centre To Ensure Year Year- -Round Availabilit Round Availability y The GOI is considering a mechanism to enforce and verify sugar stock declarations by mills, stockists, and wholesalers to ensure adequate availability throughout the year in coordination with states, due to expectations for lower production, though which will be greater than consumption. Tradologie.com, a next generation transaction-oriented, SaaS platform for B2B commodities, connecting bulk buyers with bulk sellers of mainly branded food and agro-commodities who are registered and verified by the company on a global scale. Sugar producers and sugar sellers can easily get the best price here if they sell sugar in bulk while buyers can buy sugar in bulk from vendors across the globe. This is all done directly as there are no middlemen involved in the process and the company facilitates the entire process. Government’s Policies Government’s Policies In September of this year, the Food Ministry issued an order requesting that sugar mills provide information on the amount of sugar sold each month “to ensure sufficient availability at reasonable prices by having complete data of stocks with sugar traders, dealers, wholesalers, big retail chains, and processors.” A senior official stated, “Though the Order was issued two months ago, there was insufficient follow- up’s with the state governments. Similar to the wheat stock holding limit, states will be enlisted to ensure proper verification of data submitted by stockists and wholesalers.”

2. The format that has been shared requires the mill to provide PAN, GST, mobile number, and the monthly purchased quantity for each buyer. But according to sources, the plan is for self-declarations to be made on a specific portal either every week or every two weeks. India Might Need To Import Sugar For Domestic Demand India Might Need To Import Sugar For Domestic Demand The Government projects that domestic consumption will be between 27.5 and 28 million tonnes (mt), compared to production of 29 to 30 mt, meaning that there will be a 1.5 to 2 mt surplus during the current sugar season, which runs from October to September. The opening stock from last year's carry- over was 5.7 mt as of October 1, and the opening stock for the following season will be around 7 mt. Industry experts, however, stated that a lot will depend on the amount of sugar that is diverted for ethanol and the amount of export that is permitted to friendly nations upon diplomatic request. According to an industry official, “the majority of mills have not begun producing ethanol from sugarcane juice as they await the declaration of a new price for the 2023–24 ethanol supply year (November–October).” Because of the limited supply, the government has stated that there are no plans to permit sugar exports during the 2023–2024 season. In the 2022–2023 season, India exported 6.1 mt of sugar thanks to permits given to mills. Exporting sugar is only permitted with Food Ministry permits. If you are a sugar importer wishing to import sugar in bulk or a sugar exporter willing to export bulk sugar, then Tradologie.com is the right platform for you. Tradologie.com is a next-generation Saas platform that facilitates bulk agro-trade across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.