MIEQ set at 40 lakh tonnes for next sugar season
Q. The food ministry has set a minimum indicative export quota for manufacturers in the next sugar season in October at which value?- Published on 21 Sep 15a. 30 lakh tonnes
b. 40 lakh tonnes
c. 50 lakh tonnes
d. 60 lakh tonnes
ANSWER: 40 lakh tonnes
To deal with the huge stockpile of sugar in the country to prevent further price cashing and poor industry health, food ministry has established an MIEQ for manufacturers to export 40 lakh tonnes in the next sugar season in October 2015. UP millers will have to export 10 lakh tonnes and manufacturers in Maharashtra will have to export 13 lakh tonnes. This comes when India is recording surplus sugar production for the 6th consecutive year. Total domestic consumption is projected at 284 lakh tonnes. Exports from India continue to remain unviable and the industry will seek the government’s help.
