India sugar export deals gain traction on lower prices, weak currency
Indian sugar mills have contracted about 180,000 tons for export after domestic prices eased and the rupee weakened. Exports were slow earlier despite government approval to ship 1.5 million tons this season, Reuters reported.
MUMBAI/LONDON, Jan 8 (Reuters) – Indian mills have signed export contracts for around 180,000 metric tons of sugar this season with a domestic price correction and weaker rupee belatedly driving overseas sales in recent weeks, trade and industry officials told Reuters.
The federal government in November approved exports of 1.5 million tons of sugar from the current season, which opened on October 1. But high prices on the local market have led to sluggish export activity.
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Source : Reuters
