India to allow 1.2 million tonnes of additional sugar exports this season

Published 2022년 8월 3일

Tridge summary

The Indian government is set to increase the sugar export quota by 1.2 million tonnes for the 2021-22 season, raising the total export allowance to 11.2 million tonnes. This decision is a response to the higher domestic production estimates and demand in the international market. Despite the recent correction in prices, the demand for Indian sugar persists. The country's total sugar production is projected to reach 36 million tonnes, up by half a million tonnes from the previous estimate. Even with the increased exports, India will have closing stocks ranging from 6 to 6.8 million tonnes.

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

Original content

The Centre is likely to allow an additional 1.2 million tonnes (MT) of sugar exports in the current season ending September 2022 taking into account higher-than-anticipated domestic production, according to government sources. This additional quota would be over and above 10 MT of sugar exports allowed for the current 2021-22 season. A group of ministers approved the additional quota of sugar exports in a recent meeting. A notification in this regard will be issued soon. The nodal Food Ministry is working on modalities to allocate the additional quota. The country’s total sugar production is expected to increase by 5,00,000 tonnes to 36 million tonnes in the 2021-22 season, compared to the earlier estimate of 35.5 million tonnes. Even after the export of an additional quota of sugar, the country would be left with around 6-6.8 MT of closing stocks. Mills have exported 9.97 MT of sugar so far in the ongoing 2021-22 season to countries such as Nepal, Bangladesh, Sri Lanka, UAE, ...

Source: Indoasiancommodities