Indian authorities had introduced a scheme in January 2021 to incentivise exports and thus scale back the excess sugar in the home market. The scheme was meant to assist the sugarcane rising farmers because it assumed that the sugar mills can pay their payments on time when the sugar costs in the home market enhance on clearing the surplus shares. However, the arrears of sugarcane farmers proceed to rule excessive in the highest two sugar producing states of Uttar Pradesh and Maharashtra.
According to AISTA, as on April 9, India has moved 15 lakh tonnes of uncooked sugar, 9.5 lakh tonnes of white sugar and 37,000 tonnes of refined sugar; with the whole sugar inventory in transit and delivered to port based mostly refinery accounting for about 28 lakh tonnes. Sugar that’s underneath loading for export or nominated for export is little over 5 lakh tonnes.
The prime 6 export locations for India sugar until April are Indonesia (38.5%), Afghanistan (12.3%), Srilanka (9.9%), UAE (9%), Somalia (7.6%) and Bangladesh (5.6%). Quoting market sources, AISTA press be aware has stated that the nation has contracted for export of 49 lakh tonnes of sugar.
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