India to Allow Sugar Mills to Export Almost 1 Million Tons by End-February

India, the biggest sugar consumer, will allow mills to export about 962,000 metric tons of the refined variety by February under the so-called advance permit scheme, the food ministry said.

Mills must export by Nov. 30 about 25 percent of the volume imported to meet a domestic shortage between 2004 and 2008, the food ministry said in a letter to mills. The remainder should be shipped in the quarter beginning Dec. 1, according to the letter.

Mills must provide details about pending export obligation within 10 days, the ministry said.

Under the advance permit rules, mills can buy sugar duty- free for processing and selling locally provided they export an equivalent volume of refined sugar within a stipulated period.

To contact the reporter on this story: Thomas Kutty Abraham in Mumbai at tabraham4@bloomberg.net

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