Mumbai, 14 Jan (Commoditiescontrol):India is expected to permit the export of 10 lakh tonnes (1 MMT) of sugar, according to ET Now News, citing sources familiar with the matter. However, with global prices under pressure, the viability of exports at current rates may depend on government support through subsidies.
ICE raw sugar futures fell by 2.49%, while London white sugar futures declined by 2.3%, as markets speculated about India’s return to the export market. Despite this, the prevailing global prices are below levels that make exports profitable for Indian mills.
India’s sugar production for the 2024-25 season is projected to hit its lowest level since 2019-20, below domestic consumption. While limited export approvals are being considered, the lack of economic viability without subsidies may deter mills from aggressively participating.
The government’s final decision, including whether subsidies will be offered, will significantly influence both domestic and global sugar markets in the coming months.
(By Commoditiescontrol Bureau; +91-9820130172)
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