Indian mills have contracts to export 600,000 metric tons of sugar in the 2024/25 marketing year ending in September, but are reluctant to sign further export deals as local prices have increased. After halting exports last year to calm domestic prices, India in January allowed exports of 1 million tons of sugar during the current season to help mills to export surplus stocks. India’s sugar output for the 2024/25 marketing year is expected to fall to 25.8 million tons compared to annual consumption of 29 million tons.
Mills have dispatched around 250,000 tons of the 600,000 tons in export contracts signed since January. India, which sells sugar to countries including Afghanistan, Bangladesh, Indonesia, Sri Lanka and the United Arab Emirates, was the world’s No. 2 exporter during the five years to 2022-23, with volumes averaging 6.8 million tons annually. Despite the current slowdown, mills will be able to export the entire quota of 1 million tons.
Presentation -Dibyabharati Nayak