Indian sugar enters the Egyptian market to fill void left by Brazil

Published 2021년 11월 17일

Tridge summary

Indian sugar has been imported by Egypt, replacing Brazil as the main supplier, and has also been rerouted to Egypt from troubled regions like Syria and Lebanon. However, Indian sugar industry officials were unaware of this development. The global sugar market is experiencing a deficit due to low production in Brazil and increased consumption, leading to a 57-month high in sugar prices. India, with its large sugar production, is well-positioned to meet this demand. Last season, India exported 7.1 million tonnes of sugar, and exports are expected to aid in domestic price stabilization.

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

Original content

According to traders, Indian sugar has found its way into the Egyptian market, filling the void left by Brazil. The transcontinental nation is likely to purchase sugar from India for the first time in decades, having previously sourced it from the Latin American country. "Egypt obtains Indian sugar through international trading companies." They buy in small quantities and do so either on the high seas or after reaching a specific destination (ports) in the region," said a trading source. Sugar destined for troubled destinations in the region, such as Syria and Lebanon, is also being rerouted to Egypt, according to the source. When contacted, officials and traders in the Indian sugar industry said they were unaware of any such development. "Egypt is too far away for parity to Indian exporters," said Ravi Gupta, Chairman, Export Committee, All India Sugar Traders Association (AISTA). Abhinash Varma, Director-General of the Indian Sugar Mills Association, agreed. According to Vidya ...

Source: Krishi Jagran