- Indian Sugar Export Update :
- For the ongoing 2022-23 season, India’s sugar export is capped at 6.1 MMT. In Jan’23, the country exported 1.4 MMT of sugar as against 1.7MMT the previous year. This is a decline of about 17.6% Y-o-Y. Owing to the country’s focus on ethanol production and to ensure demand availability, the country had restricted export to 6.1MMT for the season.
- In Jan’23, the major export destinations were Bangladesh, Sudan, Djibouti, Iraq, and Somalia. These top 5 destinations accounted for 50% of the total sugar export from India as per the Ministry of Commerce and Industry.
- Bangladesh being the key destination, India exported about 0.2MMT of sugar accounting for 14.2% of the total exports in Jan’23 as compared to 0.54 MMT the previous year.