15Feb2023 Indian Sugar Trade Analysis

Trade Analysis Indian Sugar 15-Feb-2023
  • Indian Sugar Export Update :
  • The sugar industry anticipated that the government will allow an additional 3 MMT. With the production anticipated to decline, India would not allow more sugar exports dampening the speculation of the permit of a second tranche of shipments.
  • Currently, it is expected that India would export only 6.1 MMT of sugar as per the govt. cap imposed on sugar export amid prevailing supply concerns.
  • Owing to high export parity, about 5.5 MMT of contracts were made for the export of sugar.
  • As per the Ministry and commerce and Industry, most of the sugar had been destined for Sudan, Djibouti, Somalia, Saudi Arabia, Malaysia, China, and others.