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Saturday, 26 November 2022 11:34 GMT

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)


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