Read more about India s sugar exports touch 4.25 mn tonnes so far this year: AISTA on Business Standard. Sugar mills in India have exported 4.25 million tonnes of the sweetener so far in the ongoing 2020-21 marketing year ending September, with maximum shipments to Indonesia, trade body AISTA said
Mills have contracted to export 5.85 million tonnes of sugar so far, as against the 6 million tonnes quota assigned by the food ministry in January this year.
Read more about Govt cuts subsidy on sugar exports to Rs 4K per tonne on high global prices on Business Standard. The Centre slashed subsidy on sugar exports from Rs 6,000 per tonne to Rs 4,000 per tonne with immediate effect in view of firm global prices
The Centre on Thursday slashed subsidy on sugar exports from Rs 6,000 per tonne to Rs 4,000 per tonne with immediate effect in view of firm global prices. However, trade sources said the move may not impact exports much, as of the existing quota of 6 million tonnes, around 5.7 million tonnes have already been contracted at the older subsidy rate of Rs 6.000 per tonne. For the ongoing 2020-21 marketing year (October-September), the government had fixed a subsidy of Rs 6,000 per tonne to facilitate exports, improving the liquidity of mills and enabling them to clear cane price dues to farmers. Sugar mills were mandated to export 6 million tonne of sugar in the current year. So far, 5.7 million tonne of the sweetener have been contracted for export.
The Commodities Feed: US East Coast fuel shortages
Oil continues to trade in a rangebound manner, with the lack of a fresh catalyst for the market. The market is waiting for further developments regarding the Colonial pipeline outage. There has been panic buying along the East Coast, which has led to some gas stations in the region running out of fuel. The Environmental Protection Agency issued an emergency fuel waiver in several states in order to try help avoid shortages of reformulated gasoline. While a prolonged outage would be supportive for refined product prices, it could start to weigh on crude oil prices, if refiners on the US Gulf Coast are forced to reduce run rates due to a build-up of refined product inventories in PADD3.