The Philippines has suspended sugar export to the United States during the current crop year as the forecast drop in output may just meet local demand.
Lack of shipping containers has put brakes to sugar exports from India, said exporters, according to local press reports.
On December 16, 2020, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi approved its marketing year (MY) 2020/21 sugar subsidy, totalling INR 35 billion (US$475.8 million) to export six million tonnes under its Maximum Admissible Export Quota (MAEQ) program that facilitates sugar exports and subsidizes any related additional production costs.
The deterioration of Sino-Australian relations ignited by Prime Minister Scott Morrison’s call for an inquiry into the origins of coronavirus, which was identified in the Chinese city of Wuhan, has disrupted exports worth up to US$19 billion on a range of goods to date, according to various press reports.
India – Sugar millers expected to export at least 5.4 million tonnes in the current campaign [Full subscriber]
Indian mills have, till the end of June exported 4.9 million tonnes of sugar in the current season which is set to wind-up in September end, according to Abinash Verma, director general of Indian Sugar Mills Association (ISMA).
Vessel logjam at Brazil’s Santos port as importers rush to stockpile sugar in advance of potential paralysis from the Covid-19 outbreak [Full subscriber]
Fears that the coronavirus outbreak in Brazil will paralyze the export of sugar have made dry bulk ship operators rush to send ships to major port Santos. More than 70 ships are lined up at Brazil’s port of Santos to load sugar for export in a queue that may take a month to clear, reported Reuters.
India – 5 million tonnes sugar export target will be missed due to Covid-19 plus drop in prices [Full subscriber]
India won’t be able to ship 5 million tons in the year to September as a nationwide lockdown to prevent the spread of the coronavirus disrupts logistics at ports exacerbated by the drop in sugar prices eroding export parity.
Indian sugar mills have so far contracted to export 3.5 million tonnes of sugar the in 2019/20 marketing year, mainly to Iran, Malaysia, Somalia and Sri Lanka, a trade body said on 11th March.
Indian mills are aggressively selling previous year’s sugar to Iran after the government announced a subsidy to help cash-strapped mills export a surplus, as Tehran strives to secure food supplies under U.S. sanctions, reported Reuters.
Indian sugar mills have contracted to export 3 million tonnes of sugar since the current marketing season began on Oct. 1, reported Reuters.