| Trade Analysis |
Indian Sugar |
31-Mar-2023 |
- Indian Sugar Export Update :
- Indian sugar export is limited to 6.1 MMT for the current season 2022-23. Nearly most of the export volume is already contracted, India exported 4.1MMT of sugar till Jan’23.
- Cane crushing is finishing earlier this year on account of the lower cane supply. Therefore, millers are also starting to close their operations.
- Sugar prices are likely to take a hike owing to summer demand and adding to it is the tighter supplies.
- Lower sugar output and anticipated summer demand could prevent India from allowing additional exports to ensure sufficient domestic supply.
| Trade Analysis |
Indian Sugar |
15-Mar-2023 |
- Indian Sugar Export Update :
- For the ongoing 2022-23 season, India’s sugar export is capped at 6.1 MMT. By Jan’23, the country had exported about 4.1MMT of sugar. The highest volume of 1.6MMT was exported in the month of Dec followed by 1.4MMT of sugar export in Jan’23.
- Cane harvesting and crushing in India are likely to finish earlier this year resulting in lower sugar production. Sugar mills are also starting to close their operation. In Feb’23 about 61 mills already closed. Mills are not receiving cane as per the crushing capacity of the mill. Therefore, the crushing operation is anticipated to end sooner this season.
- A target of diverting 4.5 MMT of sugar towards ethanol coupled with an anticipated decline in sugar output, makes additional export of sugar highly unlikely.
| Trade Analysis |
Indian Sugar |
14-Mar-2023 |
- 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.
| Trade Analysis |
Indian Sugar |
20-Feb-2023 |
- Indian Sugar Export Update :
- For the ongoing 2022-23 season, the government has allowed the export of only 6.1 MMT of sugar. During the previous year, the country exported a record high of 11.0MMT of sugar.
- There was speculation around the govt to allow a second pool of export. However, the govt said that the decision with regards to increasing the sugar export quota will be taken only after assessing the domestic production in March.
- This decision was made on the back of lower sugar production due to bad weather in the major cane-producing states.
| 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.
| 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.
| Trade Analysis |
Indian Sugar |
27-Jan-2023 |
- Indian Sugar Export Update :
- Sugar Exports from India have increased significantly during 2022 compared to the previous year.
- India has exported nearly 10.57 MMT of sugar from Jan’22- Nov’22 compared to 8.07 MMT during the corresponding period last year.
- Major export destinations for Indian sugar during the same period were Indonesia, Sudan, Bangladesh, Saudi Arabia, and Somalia.
- These 5 countries have contributed to almost half of the total sugar exports from India during the period.
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