07 March 2021, New Delhi: Indian sugar exports could touch a record high of 7. 5 million tonnes (MT) in the current marketing year 2021-22 as against the estimated 6 MT. However, traders and exporters do not expect substantial increase in domestic sugar prices.
A rise in the amount of sugar diverted to ethanol production has led to a deficit globally which Indian exports are filling. Indian sugar export is expected to touch record high, said Sudhanshu Pandey, secretary, Department of Food & Public Distribution.
Indian Sugar Mills Association (ISMA) also said that the country has physically exported 4. 2 MT of sugar till February of the current marketing year, against the export cont-racts already undertaken for shipment of 6 million tonnes. Another 12-13 MT of sugar are expected to be exported in March 2022.
Considering the recent ISO report indicating a global deficit of around 1. 93 MT for 2021-22 SS (October – September) and interest of exporters to buy more Indian sugar.
“Sugar prices have increased by Rs 50/quintal in March over the previous month. However, they are still lower when compared to November and December levels,” said Praful Vithalani, chairman, All India Sugar Traders Association (AISTA).