IBEF: November 11, 2021
According to All India Sugar Trade Association (AISTA), Sugar mills have exported 2.76 lakh tonnes of sugar in the last 40 days of the current marketing year with maximum shipments to the UAE and has over 1.44 lakh tonnes of sugar is under loading.
AISTA stated that mills have contracted to export 18 lakh tonnes of sugar without government subsidy so far in the 2021-22 marketing year.
The sugar marketing year runs from October to September. Sugar exports this year are being assumed without government subsidy.
According to AISTA, mills have shipped a total of 2,76,676 tonnes of sugar from October 1 to November 9, 2021.
Of the total exports commenced so far, highest export has been to the UAE at 1.08 lakh tonnes, followed by Bangladesh at 52,330 tonnes, Somalia at 24,960 tonnes and Iran at 22,646 tonnes.
“Owing to delay in start of the mills, the raw sugar exports are sluggish in spite of contracting 18 lakh tonnes of sugar,” AISTA stated.
The exports are happening mostly from sugar mills of Maharasthra and Karnataka. Export of 18,290 tonnes of sugar to Sri Lanka took place despite the country experiencing foreign exchange difficulties, the trade body stated.
The current ex-factory sugar prices in north India and Bihar have been in the range of Rs. 35,500-37,500 (US$ 476.86-503.72) per tonne and therefore the quantity of sugar exported by the mills in north India are insignificant, it stated.
During the 2020-21 marketing year, India had shipped a record 72.3 lakh tonnes of the sweetener. The largest shipments were commenced with the help of government subsidy.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.