Sugar Exports from India (Indicative Image)
Sugar mills have estimated an estimated record 72.3 million tonnes of sugar exports in the marketing year 2020-21 ending September 30. Most of it was exported to Indonesia.
The export of sugar from India is increasing continuously. Indian sugar mills have exported a record 72.3 lakh tonnes this year. All India Sugar Trade Association (AISTA or AISTA), an organization of units related to sugar business, gave this information. India is the second largest sugar producer in the world after Brazil.
Esta said that sugar mills have estimated an estimated record 72.3 million tonnes of sugar exports in the marketing year 2020-21 ended September 30. Most of it was exported to Indonesia. Aista said that out of the total exports in the marketing year 2020-21 (October to September), 70.6 lakh tonnes of sugar has been exported, while about 1,66,335 tonnes of sugar is being shipped.
Deals worth 1.5 million tonnes for the new season
According to Aista, in the marketing year 2020-21, about 60 lakh tonnes of sugar was exported with government subsidy and 7.85 lakh tonnes without subsidy. The maximum exports were to Indonesia at 18.2 million tonnes, followed by Afghanistan (6,69,525 tonnes), UAE (5,24,064 tonnes) and Somalia (4,11,944 tonnes), a statement said.
Aista said that in the new marketing year 2021-22, export deals of about 1.5 million tonnes have been done so far. Several sugar mills have signed futures contracts for exports in the coming season. Hence it is believed and expected that Indian sugar mills will take advantage of this opportunity and will be in a position to export up to 6 million tonnes of sugar in the next season also.
India has good export opportunities in this season as well.
Moreover, the sugar production in Thailand is likely to increase in the next season as compared to its previous years, but still it will remain low by around 30-3.5 million tonnes from its normal production of 14-14.5 million tonnes. Thailand’s sugar will come in the market only after January 2022.
Global prices are trading at a four-year high on the prospect of a shortage of sugar in the world market in the new season due to a possible fall in production in Brazil. Indian sugar mills can get the benefit of this. In the next few months, until January 2022 and then by April 2022, Brazil will have a good opportunity to export its surplus sugar before sugar hits the market.
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