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NFCSF wants Mill Owners to Focus on Export of Raw Sugar to Increase Profits

Raw Sugar export

The National Federation of Cooperative Sugar factories Limited has asked its members i.e. the sugar factories and state cooperative sugar federations to focus on the production and export of raw sugar in the coming sugar season.

Prakash Naiknavare, MD, NFCSF, said in a recent letter to cooperative sugar mills that it’s advisable for sugar mills to produce raw sugar in the coming season. He has urged the Mill owners to tap new opportunities. He also said “Various Market reports suggest that due to erratic weather conditions in Brazil sugar production is expected to fall down. As a result, there will be a drop in supplies of sugar from brazil between November 2021 and April 2022., which provides an opportunity for us to export raw sugar to various countries in the fore coming months.”

He further said that the latest discussions with the major export houses confirm that they are going for forward contracts with sugar mills for the export of raw sugar for the deliveries in December and January at a price range of Rs 3,240- 3,280 per quintal.

The NFCSF believes that if the sugar mills are able to produce raw sugar at the beginning of the season then the mills can export above their monthly sugar quota for the domestic sale, which would be helpful in improving the cash liquidity.

About NFCSF:

The National federation Of Cooperative Sugar Factories Limited is the apex body of cooperative sugar mills in India. It was established in 1960 to build a strong and vibrant cooperative sugar sector in India. All cooperative sugar Factories and State Cooperatives Sugar federations are its members.

The federation participates in sugar policy formulation at national and state level and helps to set agenda for the development and growth of the sector in India. It advocates, promotes and safeguards the collective interests of its members in accordance with the cooperative principles.

The above news was originally posted on krishijagran.com

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