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India OGL sugar exports decision faces further delay
22.02.2011 12:51 "Agro Perspectiva" (Kyiv) —
A decision by India on
whether to allow 500,000 tonnes of unrestricted sugar
exports could take another three weeks as the government
has decided to broaden consultations to key ministries,
government sources said.
International markets have been waiting for news on the
Open General Licence (OGL) exports, as prices hit 30-year
highs after supplies have been hit by freak weather conditions
in producers like Australia.
India, the world’s biggest sugar producer behind Brazil,
has flip-flopped on the OGL sales — in December, a minister
said mills could export the permitted quantity under
the OGL.
But spiralling domestic food inflation put pressure on the
government, which referred the issue to a panel of ministers.
There had been hopes easing food inflation in the past
couple of weeks would prompt a decision on the OGL exports
this week
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