India Likely To Allow Additional 2-4 Million Tonnes Of Sugar Exports This Season: ISMA

(MENAFN- KNN India) India likely to allow additional 2-4 million tonnes of sugar exports this season: ISMA

New Delhi, Nov 24 (KNN) The Indian Sugar Mills Association (ISMA) on Wednesday said the Indian government is expected to allow additional 2-4 million tonnes of sugar exports in the 2022/23 season. This move will leave total exports at 8-10 million tonnes and below last year's level.

The government earlier this month had given a green signal to the first tranche of exports for 2022/23 at 6 million tonnes in a move that helped cap recent upward pressure on benchmark ICE sugar prices.

'Definitely there will be a second tranche between 2-4 million tonnes, depending on production,' Aditya Jhunjhunwala, president of ISMA, told Reuters on the side-lines of the International Sugar Organisation seminar in London.

Jhunjhunwala pointed out that India would likely produce 36 million tonnes of sugar and 5 million tonnes of ethanol.

Indian consumption is at around 27-27.5 million tonnes, so that leaves 8.5-9 million tonnes for export, he said, adding mills have already signed contracts to export 4 million tonnes of sugar.

India is world's biggest sugar producer and the second biggest exporter behind Brazil. In the last year's season (2021-2022), It had exported more than 11 million tonnes of sugar.
(KNN Bureau)


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.