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

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 ...