India to raise sugar export cap this year amid high production; ship 1.2 mln tonnes of additional sweetener

Following strong production and to avoid a sudden price drop during the sweetener's supply glut, India will allow an additional 1.2 million tonnes of sugar export in this marketing year ending September 30 beyond the 10 million quotas. Sugar mills have already shipped about 10 million tonnes – an all-time record – in the current marketing year, with exports expected to reach 11.2 million tonnes, according to a statement issued by the food ministry earlier this week.

The current marketing year, which ends in September, is expected to produce 36 million tonnes of sugar. Before adjusting for ethanol diversion, net sugar output is expected to reach 39.99 million tonnes in 2022-23, up from 39.4 million tonnes in the current 2021-22 marketing year.

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