India sells sugar in ‘golden opportunity’ amid tight demandBloombergSugar makers in India are signing deals with traders and exporters on optimism that the government would soon announce overseas sales quotas for the season that starts this month. “There is a shortage of white sugar and the market is tight globally.”Workers load sugarcane onto a trailer in a field in Gove village in India’s western state of Maharashtra on Nov. 10, 2018. The refined variety is fetching 38.5 rupees from overseas buyers compared with a local market rate of 36 rupees, he said. Among destinations for raw sugar are Indonesia and Bangladesh, while low quality white sugar can be sold to the Horn of Africa region, Sri Lanka and Afghanistan for direct consumption, with good demand now, Shaikh said. Domestic sugar production is forecast at 35.5 million tonnes this year, while consumption is seen at 27.5 million, the Indian Sugar Mills Association said.

Source: Taipei Times October 15, 2022 18:52 UTC