Govt lifts ban on export of sugar with immediate effect

New Delhi, Jan 11 (UNI) The Government today lifted the ban on export of sugar with immediate effect in view of the comfortable position of the commodity in the country.

Briefing mediapersons after a meeting of the Cabinet Committee on Prices (CCP), Finance Minister P Chidambaram said the decision was taken on the recommendations of the Ministry of Consumer Affairs, Food and Public Distribution, Department of Food.

The ban has been lifted after reviewing the norms, buffer stock position and production of sugar in the current season ending September 2007.

The production of sugar during the season is pegged at 23-24 million tonnes compared to the production of 19.3 million tonnes during last season.

The total availability of the commodity, including carry over stocks, is expected to be around 27.5 million tonnes as against the domestic consumption of 185-190 lakh tonnes.

Mr Chidambaram, however, made it clear that the exports will continue to be regulated under the export release order system.

UNI