Bloomberg: Container shortage limits India's exports, sugar refiner says

Published 2021년 1월 29일

Tridge summary

India's sugar exports have been negatively impacted by a global container shortage, leading to a significant decrease in containerized white sugar exports in January 2021 compared to the previous year. This issue, coupled with increased shipping rates and reduced imports due to geopolitical tensions with China, has resulted in a decline in exports from 370,000 tonnes in January 2020 to 70,000 tonnes in January 2021. Despite these challenges, there is still robust demand from countries such as Afghanistan, Sri Lanka, and East Africa. Indian mills are projected to export around 200,000 tonnes this month, including raw sugar. The situation is expected to support global white sugar prices, which have reached their highest level in over three years.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The scarcity of containers in India, the world's second largest sugar producer, is hampering shipments, although external demand remains robust, according to an industry representative. The country exported only 70,000 tonnes of white sugar in containers this month, compared with about 370,000 tonnes in January 2020, according to Ravi Gupta, president of Shree Renuka Sugars Ltd, the country's largest refiner. Shipping rates have increased globally as demand for goods rebounded more strongly than expected in the second half of 2020, creating a shortage of containers. Geopolitical tensions with China have also reduced imports to India, which means fewer containers received. "The scarcity is seriously damaging exports of low quality white sugar," said Gupta. There is a good demand from destinations like Afghanistan, Sri Lanka and East Africa, but India's movement is very slow due to low container availability, he said. Indian mills are expected to export around 200,000 tonnes, ...

Source: NoticiasAgricolas