Political and economic turmoil in neighbouring countries may adversely impact India’s sugar exports this season

Published 2021년 10월 30일

Tridge summary

The Secretary for Food and Public Distribution in India, Sudhanshu Pandey, has expressed concerns over the country's sugar export prospects for the 2021-22 season, despite the export of 1.8 million tonnes to various countries. Factors such as increased Thailand production, instability in Afghanistan, and Sri Lanka's foreign currency shortage are expected to affect Indian sugar exports. India plans to divert a significant portion of its sugar production to ethanol production, with a target of 6 million tonnes by 2023. However, the government will not provide any assistance for exports this season. Pandey also emphasized the need for a fair pricing policy in the sugar sector, which is vital for over 50 million farmers.

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

Original content

The Secretary for Food and Public Distribution, Sudhanshu Pandey warned of challenges in sugar exports from India in the 2021-22 season even though 1.8 million tonnes had already been contracted at the start of the season itself. Addressing the All India Sugar Traders Association (AISTA) on global sugar, he said that last year India was able to export 7.2 million tonnes of the sweetener to various destinations and almost 50% of this went to three countries — Indonesia, Afghanistan and Sri Lanka. “These countries have different dynamics this year. Thailand’s production is likely to go up this time and so Thailand sugar will try to find its lost market in Indonesia. Indian sugar will have to compete for Indonesia market again. Instability in Afghanistan may impact our exports to the country and Sri Lanka has a huge foreign currency shortage. And therefore, a new arrangement will have to be thought of by the industry so that export market is also served,” he observed. Pandey said ...

Source: Indoasiancommodities