New Delhi: Sugar mills in India are eyeing to export sugar surplus in a bid to reduce the glut. They are contracting with buyers to commence the export. Domestic sugar prices have come under pressure. Abhinash Verma, Director General, ISMA believes the world prices should move up from the later part of November. In the next 4 to 5 months, it will be a good opportunity for India to export sugar.
Talking to a leading news channel, Verma said, “Now that Brazilian production is over, the world is looking at Indian sugar and therefore the world prices have to move to such a level to attract Indian sugar into the international market. I would believe that Indian has an opportunity to export sugar from hereon, from December to April. So we have almost 4-5 months period where the world will find Indian sugar attractive.”
As per trade and market sources, about 15 lakh tons of sugar have been contracted for exports, which includes contracts made with port based refiners by sugar mills. Major destinations for sugar exports are Iran, Sri Lanka, Afghanistan, African countries etc.
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