Millers “seek” permission to export one million tons of sugar.

According to officials, the ministry has already received comprehensive sugar stock numbers for examination. According to industry insiders, exporting excess inventory might result in foreign exchange profits of over $1 billion.

However, the sugar sector has cautioned that mills may suffer financial losses due to surplus stock levels if exports are prohibited.

Before any export license is given, sugar mill owners would have to ensure that domestic prices would not rise, according to ministry sources. They stated that without such guarantees, the government would not allow exports.

Additionally, officials recalled that the clearance to export 700,000 tonnes of sugar last year led to an increase in domestic prices; at the time, sugar was allegedly selling for between Rs120 and Rs200 per kilogram.