Sugar exports may climb to four-year high on record output

Posted by Daily Shipping Times on 09-03-2018        Tweet

NEW DELHI: India will probably export more sugar than previously forecast as higher yields in some key growing regions are seen boosting output in the world’s top consumer.

Mills will attempt to ship about 2 million metric tonnes of sugar this year as domestic production is likely to climb to a record, leaving enough surplus for exports, said Abinash Verma, Director General of the Indian Sugar Mills Association. That would be highest since 2013-14 when India shipped 2.13 million tonnes. Last month, Verma said that millers will try to export 1.5 million tonnes in six to eight months, raising his estimate from January forecast of 1 million tonnes.

“We could explore the possibility of exporting white sugar in the next six to seven months with the government’s help,” Verma said in a phone interview on Wednesday. Mills will attempt to export about 4 million tonnes of raw sugar in the next season starting in October to keep the inventory under control, he said.