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India Likely To Cap Sugar Exports At A Little Over 6 Million Tonnes This Season

India is the largest sugar producer in the world but the Asian nation ranks second behind Brazil in terms of sugar exports. The country majorly exports sugar to Indonesia, Bangladesh, Malaysia, and the United Arab Emirates and diverts some of its domestic sugar production for ethanol production, after meeting its domestic consumption needs.

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India Likely To Cap Sugar Exports At A Little Over 6 Million Tonnes This Season

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  1. India Likely To Cap Sugar Exports At A Little Over 6 Million Tonnes This Season, Stoking Concerns About Tight Supplies That Have Pushed Global Prices India is the largest sugar producer in the world but the Asian nation ranks second behind Brazil in terms of sugar exports. The country majorly exports sugar to Indonesia, Bangladesh, Malaysia, and the United Arab Emirates and diverts some of its domestic sugar production for ethanol production, after meeting its domestic consumption needs. Current Scenario This season, the country is likely to cap its Sugar Exports at 6 million metric tonnes (MMT) due to exacerbating concerns regarding tight supplies which have pushed the global prices of the commodity to more than a six-year high. As per the Indian Sugar Mills Association (ISMA), starting 1st October 22, exports of sugar would total 6.1 MMT in the current crop year, down from its expected forecast of 9MMT. This may indicate that the government, which has already authorized the shipment of 6MMT this season, is unlikely to give the go-ahead signal for more exports.

  2. Reasons Mr. Sanjeev Chopra, the Food Secretary of India said that the decision on exports would be made in February 2023 after taking into account the domestic output and demand. In the current week, the price of sugar reached its highest level since late 2016 as traders believed that India’s government would impose export restrictions as a result of lower production and that the country wants to protect its domestic supply and also ensure that the prices remain stable. India produced 35.8 MMT of sugar in the previous crop season (2021-22). The country’s production may decline to 34 MMT in the current season which is down from the previous estimates of 36.5 MMT. ISMA’s President’s Statement Mr. Aditya Jhunjhunwala, president of ISMA, said during an interview on the phone “The sugar cane yields in Maharashtra are less than expected due to adverse weather and that’s going to reduce the country’s overall production” He further stated “We are not going to request the government for more exports. We will now concentrate on completing the current quota. We will review again in March, after looking at the actual production.” If you are an importer willing to buy bulk quantities of sugar or are an exporter thinking to grow your sugar export business, then Tradologie.com is the right platform for you. Tradologie has 70,000+ registered sellers and 600,000+ registered buyers of various food and agro-commodities in its network and through the platform, you can buy or sell sugar in bulk with ease. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, followTradologie.com across all social media channels.

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