27 Mar '11, 6am

Govt to notify procedures for sugar exports via OGL this week

New Delhi , Mar 27 (PTI) The Food Ministry will notify the government''s decision to allow export of 5,00,000 tonnes of sugar this week, a senior official has said. Last week, an empowered group of ministers (EGoM) on food, headed by Finance Minister Pranab Mukherjee, allowed sugar exports under the Open General Licence (OGL) as the domestic production is all set to exceed demand. In December, the Food Ministry had announced exports of 5 lakh tonnes of sugar under OGL and the decision was notified on January 1 this year. However, in view of high inflation, the food ministry''s decision was kept on hold and the matter was referred to EGoM. "Procedures for sugar export under OGL will be notified this week. All mills will be given an equal opportunity for exports," a senior official with the Food Ministry said. OGL is a permit the government gives to mills to export sugar wit...

Full article: http://sg.news.yahoo.com/govt-notify-procedures-sugar-exp...

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