10Feb2023 Indian Sugar Trade Analysis

Trade Analysis Indian Sugar 10-Feb-2023
  • Indian Sugar Export Update :
  • Indian sugar exports have increased significantly in the past few years as the govt has permitted sugar millers to export the surplus and encourage early payments to cane farmers.
  • India has become the second largest exporter in 2021-22 by exporting 11 MMT of sugar.
  • However, in the current sugar season govt has permitted the export of only 6 MMT of sugar of which nearly 5.7 MMT has been already contracted by millers as the export parity is high in the past few weeks.
  • In the beginning of the season, It was expected that govt might allow additional exports in the second tranche but now this seems to be hardly possible as the production estimates have been lowered significantly due to yield losses.