Al-Ghurair admitted this was largely due to the fact that Iraq, its top customer in the recent past, has now become practically self-sufficient in the production of refined sugar.
India – Incentives sought by millers from government to export white sugar [Registered]
Last February, the government decided to give mills a subsidy of INR4,000 ($64) a tonne for exports of up to 1.4 mln tonnes in an effort to reduce stockpiles after five straight years of surplus output. Despite that a sharp drop in the Brazilian Real has thwarted India’s efforts to step up raw sugar exports. Brazil’s raw sugar is currently available at $310-$312 a tonne, while Indian raw is priced at $345 a tonne.
Monthly Snapshot
Raw sugar for March delivery settled at 19.82 cents/pound on January 18 after reaching a two-and-a-half-week high earlier in the session at 20.25 cents. The white sugar contract expiring in […]
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