India has started exporting sugar

Published 2020년 11월 27일

Tridge summary

Indian sugar factories have made their first unsubsidized export agreements in three years, selling 10,000 tons of white sugar at a loss due to financial difficulties in paying farmers. This comes as the government has yet to announce an export subsidy, leading to a delay and an increase in world sugar prices. The exact export quota for the 2020-2021 season has not been set, but exports are permitted without it. A significant portion of the sugar is set for export to Afghanistan.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

27.11.2020 As four industry representatives told Reuters, for the first time in three years, Indian sugar factories have signed export agreements without government subsidies, as they find it difficult to pay farmers for sugar cane. At the moment, sugar factories have signed contracts to export 10,000 tons of white sugar in the new season, which began on October 1. So far, the price shows that sugar factories are selling white sugar at a loss. In any case, the start of sugar supplies to the world market may affect world sugar prices. India is the largest consumer of sugar in the world, but as the second largest producer, it produces more than required. The government uses subsidies to stimulate exports and ensure that factories make payments to reed growers. This year, disagreements between ministries delayed the announcement of an export subsidy, which helped raise world sugar prices to their highest level in almost nine months. Sugar mills began selling sugar to exporters after ...
Source: Agriagency

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