Brazilian shipping woes, higher supply deficit to buoy Indian sugar exports
March 02, 2021
A nearly five-million tonnes (mt) sugar deficit projected by the International Sugar Organization (ISO) is likely to keep sugar prices firm this season (October 2020-September 2021) with Brazilian shipping woes likely to help India’s cause to export more of the commodity.
The ISO, in its quarterly outlook, has raised the sugar deficit during the current season to 4.782 mt from its earlier estimate of 3.50 mt three months ago.
This will see production dropping this season by 1.24 per cent to 169.04 mt (171.16 mt), while consumption is seen increasing to 172.82 mt (170.24 mt).
Farmers protest in Muzaffarnagar villages more about sugarcane issues than agri laws
The opposition to these laws becomes louder and more visible as one moves towards the Jats-dominated areas in western Uttar Pradesh.
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Farmers in support of the Bharatiya Kisan Union attend ‘Kisan Mahapanchayat’ against the three new farm laws in Muzaffarnagar on Friday | PTI By PTI
MUZAFFARNAGAR: The old saying that agriculture is the best way to earn a living and working for someone else is the worst has given way to new realities, says Raj Kumar, a farmer from Satheri village in this western Uttar Pradesh district, a region where farmers agitation seems to be driven more by the stagnant sugarcane prices and the stray cattle menace, than by the three contentious agri laws.
Sugar exporters keep a watch as cabinet expected to take a decision on subsidy today
The incentive for exports, which will boost shipments, could be given for 50-60 lakh tonnes of sugar, say sources. December 16, 2020 / 04:32 PM IST
The Union Cabinet may consider incentives for sugar exports for the current season at a meeting later on December 16. A favourable decision will provide some momentum to sugar shipments that came to a standstill on October 1.
“The cabinet is meeting today and we hear it has been listed for discussion,” said a sugar mill official, who didn’t wish to be identified.
According to Abinash Varma, Director-General of Indian Sugar Mills Association (ISMA), there was talk of the government providing a subsidy of about Rs 6,000 a tonne.