News International Sugar Journal

Global market unmoved by licence to export 1 million tonnes sugar from India [Registered]

Export of 1 million tonnes of white sugar under Open General Licence (OGL) was recently granted in India. The move is not expected to exert heavy downward pressure on international prices as it had mostly been factored in already. On the domestic market, the decision had the intended impact of sending prices sharply higher on the basis that this volume would no longer be available for internal supply. Indian mills are facing higher production costs this season due to sharp increase in cane prices, so they were looking for a boost in exports and a lift in domestic prices to…

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