India is likely to impose a ceiling on sugar exports for a second straight year starting October 2022, aiming to ensure ample domestic supplies and keep a lid on local prices, according to Reuters, citing industry and government sources.
India is restricting the sale of sugar on international markets just days after it banned wheat exports.
India consolidates export market for sugar in its relative locality amidst high crude oil prices [Full subscriber]
With high crude oil prices driving up freight rates, India has emerged as a preferred supplier of sugar over Brazil for markets in the Middle East, Eastern Africa and South Asia, reported Hindu Business Online.
India – Millers contract to export of 4.6 million tonnes sugar in 2021/22 without subsidies [Full subscriber]
Sugar mills have signed contracts to export 4.6 million tonnes of sugar in the 2021/22 marketing year without government subsidies, according to the All India Sugar Trade Association (AISTA), reported Reuters.
The Philippines will not export sugar this crop year amid expected lower output, according to the Sugar Regulatory Administration (SRA).
India has contracted to export 5.6 million tonnes of sugar so far in the current 2020-21 (Oct-Sept) season, and is expected to conclude deals for shipment of the rest 400,000 tonnes soon, trade body All India Sugar Trade Association (AISTA) said on 11th May.
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.