Basti molasses exports generate USD 5L in forex

Lucknow: The export of 25,000 quintals of molasses from Basti has generated nearly USD 5 lakh in foreign exchange earnings, the state govt said on Monday. Notably, molasses falls under a separate tariff classification; therefore, the foreign exchange earned from it is separate from the state's main excise export figures. Officials said industries linked to agricultural products such as sugarcane and grains in UP are now gaining access not only to local markets but also to global markets. 'This has increased opportunities for processing, value addition and market expansion of raw material produced in the fields. The state has an extensive sugarcane-based economic network. Along with sugar, by-products such as molasses are also produced from sugarcane,' officials said. The state govt's three-year excise export policy 2026-29 focuses on enhancing the state's production capacity and promoting exports. In the first quarter of financial year 2026-27, the state's excise exports recorded a growth of 45.4% compared to the corresponding period of the previous year. During the same period, national growth stood at 18.3%. UP's excise exports reached USD 127.8 lakh during April-June 2026, compared to USD 87.9 lakh during the same period last year. In other words, the state recorded an additional increase of about USD 39.9 lakh. However, the nearly USD 5 lakh in foreign exchange earned from molasses exports from Basti is additional to these figures because of its separate tariff classification. The export of agricultural products overseas is not merely a transaction between farmers and exporters. It is supported by an entire chain involving processing, packaging, storage, transportation, and logistics. As exports increase, economic activity in all these sectors is also expected to grow. Excise commissioner Adarsh Singh said that the impact of rising exports in the state is not limited to excise units alone. The upstream segment of the industry is linked to agricultural products such as sugarcane, molasses, and grains, while downstream sectors include glass bottles, packaging, caps, labelling, storage and transportation. You Can Also Check: Gold Rate in Lucknow | Silver Rate in Lucknow | Bank Holidays in Lucknow | Public Holidays in Lucknow | Lucknow AQI | Weather in Lucknow | Petrol Price in Lucknow | Diesel Price in Lucknow | CNG Price in Lucknow | LPG Price in Lucknow Stay updated with the latest Lucknow news. Download the TOI App.