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India allows

50,000 tonnes

sugar exports

NEW DELHI: The Indian government has authorised the export of 50,000 tonnes of sugar and will release sugar for export "from time to time", Food Minister Ajit Singh told Reuters in an interview.

Singh said the government estimates 1994/95 (Oct-Sept) sugar output at a record 14.6 million tonnes, against an earlier official estimate of 14.3 million tonnes. It forecasts 1994/95 domestic consumption at 12.5 million tonnes, he said.

"We have allowed 50,000 tonnes of sugar for export and notification on it has been issued this week," Singh said, adding the sugar will be exported through the Indian Sugar Import-Export Corp.

"We want to see what the response is. Sugar is a volatile market. We will have a buffer stock. We will keep in mind the consumption and domestic pricing trends, the world availability of sugar and the prospects for the next crop," he said.

"Keeping these factors in mind, we will be releasing sugar for export from time to time," Singh said.

The Business Standard newspaper said the sugar shipments were likely to leave Indian ports by mid-September.-Reuter