Commodity News
HeadLine : India’s sugar export may cross 5 MT this year
Date : Feb 19 2020
India’s sugar export may cross 5 million tonnes in the marketing year ending September on higher demand from overseas amid global deficit of 8-9 million tonne, industry body ISMA said on Tuesday. For the current year, the government has allowed export of 6 million tonne of sugar under Maximum Admissible Export Quota (MAEQ) to help deal with the surplus sugar. India had exported 3.8 million tonne during 2018-19 marketing year (October-September) against the mandatory quota of 5 million tonne. The country’s sugar production has reached 16.98 million tonne till February 15 of the current marketing year, which is much lower than 21.96 million tonne output till the same period a year ago, it said. According to the Indian Sugar Mills Association (ISMA), global sugar prices for raw and white sugar are 20-25 per cent higher than the prices which prevailed three months ago when India started its exports against 6 million tonne under MAEQ. As per market reports, about 1.6 million tonne of sugar has been exported from India, and about 3.2 million tonne of contracts have been signed for exports.

Source: Business Line
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