Vivek Saraogi, managing director, Balrampur Chini expects to see some improvement in domestic prices after this move.
The government is likely to take a decision on allowing sugar exports in the 2011-12 marketing year, which commenced this month, only after Diwali, as mills are yet to exhaust the export quota of 2010-11, Agriculture Minister Sharad Pawar said on Thursday.
M Manickam, managing director of Sakthi Sugars, in an interview to CNBC-TV18, said that if partial decontrol is allowed, then it will boost sugar exports.
Ahead of the festive season, the government today allowed additional five lakh tonnes of sugar exports and said the decision will not affect the retail prices of the sweetener.
A realistic price range for cotton in the domestic textile market will once again exist, after the Centre lifted restrictions on cotton exports and moved to bring exports under Open General Licence (OGL). Textile Secretary Rita Menon told CNBC-TV18 that the cotton prices would marginally rise after the lift on export ban.
The food ministry has approved export of over 1.56 lakh tonne of sugar so far, out of 5 lakh tonne quantity that the government had allowed last month.
Speaking to CNBC-TV18, Vivek Saraogi, managing director of Balrampur Chini said that the government's decision to allow additional sugar exports will benefit the industry.
In an interview with CNBC-TV18’s Ekta Batra and Sonia Shenoy, M Manickam, MD of Sakthi Sugars, spoke on how the cyclone in Australia has impacted the rising sugar prices and their business, and the road ahead.