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“The government wants to monitor the exports so that they do not cross the magical figure of 10 million tons. As far as 10 million tons is concerned, we have very serious doubts whether that will be achieved or not, says Atul Chaturvedi, Executive Chairman, Shree Renuka Sugars.


The government is set to restrict the sugar exports as a precautionary measure to safeguard food supplies. How will this impact your company as well as the industry as a whole?
First and foremost, let me clarify that I am not aware of any plan of the government to restrict exports right now.

What I am definitely aware of is that the government wants to monitor the exports so that they do not cross the magical figure of 10 million tons. As far as 10 million tons is concerned, we have very serious doubts whether that will be achieved or not.

Firstly, as of today, only about 7.2 million tons of sugar has been exported and once the rainy season sets in, the exports will any case come down and 10 million tons is still a far way off.

We had met the secretary and the joint food secretary as well recently. Their idea is that sugar carryout in the country should be six million tons as of 1st of October and at this point of time, we see no reason why it should be less than 6.5 or 7 million tons. So I am not aware of sugar exports being banned, but the government wants to be doubly cautious after what happened to wheat. So they would want things to be much more orderly unlike in wheat. I do not see any export ban coming as of now.

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How much does the company export and how much does the industry export?
Last year seven million tons were exported and this year we are expecting exports to be anywhere between 9 million tons to 9.5 million tons and this is what the government expects.
As far as Renuka is concerned, we are in a silent period and so I would not like to talk about Renuka’s volumes. But we are a significant exporter and there is no issue on that front.

Thanks

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