Page 5 - Sugar Export News Today : Breaking News, Live Updates & Top Stories | Vimarsana

"The President of ISMA, Aditya Jhunjhunwala, says that there is currently no ban on sugar exports in India. He mentioned that the country has enough sugar production, with a surplus of 4 million tonnes. Jhunjhunwala emphasized that the government and industry will wait until the end of September to assess the final crop numbers before making any decisions. He also mentioned that the current sugar prices in India are lower compared to international prices."

The Indian government has set a minimum monthly sales quota for sugar mills at 90% of their allocated quota to prevent distortion of the domestic sugar market. The move aims to keep sugar prices stable ahead of the festival season and prevent accumulation of cane price arrears for farmers. Sugar prices have risen in recent months but have been stable for the past week. The government has the option to take further measures if prices increase.

The world has become increasingly dependent on sugar exports from the South Asian nation as global supplies tighten. Uneven rainfall across India's agricultural belts has stoked concern that sugar production will fall short, potentially dropping for a second straight year in the season starting October.

India is expected to play a smaller role in the global sugar export market due to its expanding ethanol program, according to a report by research firm BMI. The country's goal of achieving increased ethanol blending in gasoline, which will reduce carbon emissions, is leading to the development of additional capacity to produce ethanol in India.

The sugar marketing year runs from October-September.