Govt. fixes 24 LMT monthly sugar quota for domestic sale in July 2023
In a notification issued on 28th day of June 2023, the food ministry has allocated 24 LMT monthly sugar quota for July 2023 to 561 sugar mills which is 2.56 LMT higher than the quantity allocated in July 2022.
In July 2022, the quota has been revised and increased by 44,962 MT summing to 21.44LMT (earlier allocated was 21 LMT). The July’s quota is 0.50 LMT higher than previous month’s quota.
Market experts anticipate that due to the onset of monsoon, quota of 24 LMT sugar is relatively higher, which will result in potential decrease of sugar prices by 25 to 30 per quintal.
The group sugar producing companies having more than one sugar producing units may maintain the stock as defined in Para (1) of this Order, either unit-wise or for the group as a whole.
The sugar-mill wise Maximum quantity of white/refined sugar for domestic sale and dispatch during the month of July, 2023 as given in column (7) of the table, has been worked out on the basis of following parameters:-
The July, 2023 Stock holding limit has been worked out on the basis of giving 100% weightage to the month end notional stock for the month of June, 2023.
The notional month-end stock for the month of June, 2023 has been worked out on the basis of month end stock for May, 2023 (as reported in P-II), further adding the sugar lifted from sugar mills during 1st November, 2022 to 31st May for export as per 4.3 Column of P-II and subtracting actual release for May, 2023.
Besides, incentive in lieu of sugar sacrificed for producing ethanol from B-heavy molasses/sugarcane juice/sugar syrup/sugar is being given corresponding to the reported ethanol production for May, 2023.
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