State Trading Organization (STO) has stated that the missing part of the sugar shipment brought under special provisions from India was amongst the quota allocated to the company.
State Trading Organization (STO) has stated that the missing part of the sugar shipment brought under special provisions from India was amongst the quota allocated to the company.
As per the agreement made between Maldives and India in April, 64,000 metric tonnes of sugar can be brought in within the year.
While it has come to STO's attention that part of the sugar allocation is missing, India's Directorate General of Foreign Trade (DGFT) is also investigating the rerouting to Sri Lanka of some of the sugar meant to be exported to Maldives.
The investigation is being conducted into a shipment of 64,000 tonnes of sugar that was exported from India on October 25. Although it was exported at the special rates cited in the concessions granted to Maldives, it has been discovered that a part of the shipment was rerouted to Sri Lanka, Indian media reports.
Due to this, sugar exports to Maldives have been temporarily halted.
STO assured that there is a sufficient stock of sugar even though the case remains under investigation for the moment, and that there would be no shortage of sugar in the country.
With the issue coming to light, Sri Lanka has now stopped offering clearance to sugar shipments from India, and begun their own probe.
It is reported that as of October, 80 containers of sugar meant for the Maldives has been taken to Sri Lanka. A bill of landing from September 30 that has been revealed show that the final destination of 270 tonnes of sugar exported from Nhava Shiva Port in India is Colombo, Sri Lanka.
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