SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Food Ministry extends deadline for 2 MT sugar exports till December

24 Aug 2018 Evaluate

The Food Ministry has extended the deadline for export of 2 million tonnes (MT) of sugar by three months to December. This step has been taken in view of only a fourth of export quota shipped so far. In March, the government had allowed sugar export in view of record domestic output of 32 MT. Mill-wise, Minimum Indicative Export Quotas (MIEQ) were allocated by the ministry in May. Mills can export either sugar produced in the current 2017-18 season or the next 2018-19 season (October-September).

Only about 5 lakh tonne sugar has been exported so far. The shipments have been lower due to non-availability of raw sugar which is in demand in the global market. The industry made a representation that it does not have raw sugar for export and requested the ministry to consider extending the deadline so that fresh raw sugar from the 2018-19 cane crop can be produced for overseas shipment.

The government has taken slew of measures to bail out cash-starved sugar mills as well as cane farmers. Record sugar production in 2017-18 season ending September depressed local prices resulting in huge cane arrears which touched the peak of Rs 23,232 crore in May-end. The government doubled the import duty on sugar to 100 per cent and then scrapped the export duty on it. The government also made it compulsory for millers to export two million tonnes of sugar even as the global prices were low.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×