New Delhi: As per market reports, about 16 lakh tonnes of sugar have been exported from India and about 32 lakh tonnes of contracts have been signed for exports. As per reports available, few sugar mills are not planning to export sugar against their allocated export quotas. A few of them have surrendered a part of their MAEQ to the Government of India. As per the decision of the Government, 20% of export quotas of mills which have not contracted for 25% of their MAEQ by end of January 2020, will be withdrawn and reallocated amongst the others who have exported most of the MAEQ and are willing to export beyond their original MAEQ. It is understood that this process of reallocation is under active consideration and would be announced shortly.
As per experts in international trade, there is an estimated deficit of 8 to 9 million tons in 2019-20 SS in the global market and that Thailand’s exports are likely to be down by 3-4 mn tonnes due to lower production therein. Global sugar prices for raw and white sugar are currently prevailing at 20-25% more than the price which prevailed three months ago when India started its exports against the 6 mn tonnes of MAEQ. Accordingly, Indian sugar exports may get accelerated in the coming months, and could achieve more than 5 mn tonnes of MAEQ in the whole season.
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