India s sugar exports seen lower than last season on logistics woes
India’s sugar export chances were also seen bright since for the second consecutive year sugar production in Thailand, which accounts for 80-85 percent Indonesia’s sugar imports, is expected to be low. February 11, 2021 / 06:31 PM IST
India’s sugar exports are likely to be at least 25 percent lower during the current sugar season (October 2020-September 2021) owing to “logistics constraints”, particularly due to shortage of container and increase in waiting time for vessels, according to All India Sugar Trade Association (AISTA).
AISTA crop committee, which met on February 6 and made a detailed assessment on production and balance sheet on the commodity, expects sugar exports to drop to 43 lakh tonnes this season against 57 lakh tonnes last season.
India s sugar exports are likely to drop more than 24% in the current year to September due to logistical constraints such as a shortage of containers and congestion at the country s ports, a leading trade body said on Thursday. India, the world s second biggest sugar producer after Brazil, is likely to sell 4.3 million tonnes of the sweetener to the world market in the 2020-21 season against 5.7 million tonnes shipped in the previous year, said R.P. Bhagria, chief executive of the All India Sugar Trade Association (AISTA). Also, sugar shipments to Iran, a key buyer of India s sweetener, look likely to drop this year, Bhagria said.
Message :
Required fields
MUMBAI (Reuters) - India s cabinet on Wednesday approved a subsidy of 35 billion rupees ($475.78 million) to encourage cash-strapped mills to export 6 million tonnes of sugar in the 2020/21 year that started on Oct. 1.
The export subsidies are designed to increase shipments from the world s second biggest sugar producer, reducing brimming inventories. But that could pressure global prices which are already trading near their lowest level in 7-weeks.
An outstanding export subsidy amount of 53.6 billion rupees from the previous year will be transferred to the accounts of sugar cane farmers within a week, information minister Prakash Javadekar told reporters after the cabinet meeting.
India approves subsidy to export 6m tonnes of sugar in 2020/21
A labourer carries a sack filled with sugar to load it onto a supply truck at a wholesale market in Kolkata, India. Photo: Reuters/File Reuters, Mumbai Reuters, Mumbai
India s cabinet on Wednesday approved a subsidy of 35 billion rupees ($475.78 million) to encourage cash-strapped mills to export 6 million tonnes of sugar in the 2020/21 year that started on Oct. 1.
The export subsidies are designed to increase shipments from the world s second biggest sugar producer, reducing brimming inventories. But that could pressure global prices which are already trading near their lowest level in 7-weeks.