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LATEST NEWS UPDATES | Windfall for sugar mills as Centre allows export of alcohol-based sanitiser -Virendra Singh Rawat

Windfall for sugar mills as Centre allows export of alcohol-based sanitiser -Virendra Singh Rawat

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published Published on Jun 4, 2020   modified Modified on Jun 4, 2020

-Business Standard

Hit by the slump in sugar demand following lockdown and consequent subdued realisations, mills have run up huge farmers' outstanding pertaining to the current sugar season 2019-20

Lucknow: Unlocking an additional revenue stream for the beleaguered domestic sugar sector, the Central government has allowed the export of alcohol-based hand sanitizer, a commodity in high demand globally in the fight against Covid-19.

On May 6, the Centre banned the export of the product to ensure domestic market availability, although non-alcohol-based sanitizers were allowed to be shipped.

In his June 1 order, Director General of Foreign Trade (DGFT) Amit Yadav, who is also the ex-officio additional secretary at the Centre, notified the export of alcohol-based hand sanitizer with immediate effect “in any other form/packaging” other than in containers with dispenser pump.

Hit by the slump in sugar demand following the lockdown and subdued realisations, mills have run up huge sums outstanding in the current sugar season 2019-20 with mills in Uttar Pradesh alone accounting for Rs 15,000 crore.

Recently, a few major private sugar millers petitioned the Centre asking it to allow the export of alcohol-based sanitizer considering robust installed capacities and abundant production to serve the domestic market.

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Business Standard, 4 June, 2020, https://www.business-standard.com/article/economy-policy/windfall-for-sugar-mills-as-centre-allows-export-of-alcohol-based-sanitiser-120060301151_1.html?fbclid=IwAR135AZ2sSA3HJfCUHEnnssgtPtoWEmLFPKUcJb7iNRUR4ekUATb28DfwkU


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