UNION GOVERNMENT EXTENDS RESTRICTION ON EXPORTS OF SUGAR UNDER OGL
News:
The central government has extended restriction on exports of sugar under OGL (open general licence) for one more year to 31st October 2023
View:
Sugar export restriction under open general license would lead to quota based sugar exports where each sugar mills would get proportionate export quota on the basis of their production. We believe government would initially allow 6 million tonnes of export in 2022-23, which would further extent by 2-3 MT aiming to keep sugar inventory levels at 5-6 million tonnes by September 2023. It is important to note that global refined sugar prices are trading at Rs38-40 / kg (in INR), which is higher than domestic sugar prices of Rs36/kg. Indian millers have already contracted for ~3 million tonnes of exports for 2022-23 sugar season
ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470.I-Sec is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990.. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The information mentioned herein above is only for consumption by the client and such material should not be redistributed.
The information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities Limited. The contents of this mail are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. While due care has been taken in preparing this mail, I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any inaccurate, delayed or incomplete information nor for any actions taken in reliance thereon. This mail is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject I-Sec and affiliates to any registration or licensing requirement within such jurisdiction