India may export 700k tonnes of sugar
India is likely to export only 600,000-700,000 tonnes of sugar by September, despite a 1 million tonne export allowance set in January. Lower production forecasts have raised concerns about domestic supply, prompting reduced export expectations. ISMA’s Kiran Wadhwana shared the update at the S&P Global sugar conference in Geneva, reflecting a shift from earlier surplus projections.
GENEVA : India is likely to export 600,000-700,000 tonnes of sugar in the season to the end of September despite the government allowing 1 million tonnes of exports, a member of the Indian Sugar & Bio-Energy Manufacturers Association (ISMA) said on Thursday.
The world’s second-biggest sugar producer set the 1 million tonne export allowance in January because the government and industry believed there was a surplus for overseas markets.
Since then, industry groups have lowered their output forecasts for the current year, raising concerns over potential supply shortages.
“We’ll probably export 600-700kt (thousand metric tons) by the end of September,” Kiran Wadhwana, ISMA member and Executive Director of International Trading Co, told the S&P Global sugar conference in Geneva.
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Source : The Financial Express
