The union cabinet has approved Rs 3,500 crore subsidy package for the export of 60 lakh tonnes of sugar in FY21. This step is in a right direction and the sugar exports from India will rise going ahead, said Vivek Saraogi, MD, Balrampur Chini Mills.

Speaking to CNBC-TV18, Saraogi said, “We would export and I think the country would also export. It is too early to say anything but exports will happen in good quantity. The world is short on sugar. So we will easily be able to sell our sugar.”

He expects global prices to further accelerate due to shortage.

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(Edited by : Ankit Gohel)