India to authorize export of 5 million tons of sugar in coming weeks
sexta-feira, setembro 16, 2022
India is expected to authorize the country's sugar mills in the coming weeks to export 5 million tons in the 2022/23 harvest, which will begin in October, according to government sources consulted by Reuters.
The decision still depends on the assessment of what the production should be like next season. The Association of Indian Sugar Mills (Isma) estimated in July that production is expected to be 35.5 million tons, already deaparting the volume of sugarcane that should be converted to ethanol production.
The volume is very close to what is expected to have been achieved in the current cycle (36 million tons) and is sustained by the increase in the cultivation area. The next crop will also begin with 6 million tons of sugar in stocks.
Isma estimates that the production surplus in the next harvest will be 8 million tons, which will be available for export.
According to Reuters, traders have already struck deals to export 400,000 tons of raw sugar in 2022/23.
Source: RPA news
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