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Indian Sugar Exports Soar Up To 5.62 Lakh Tonnes In December

In terms of sugar exports, India, the largest sugar producer, ranks behind Brazil. Indiau2019s sugar prices on the 2nd of Decemberu201922 posted moderate losses due to an increased output of sugar in India as high output is bearish for the prices of the commodity.

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Indian Sugar Exports Soar Up To 5.62 Lakh Tonnes In December

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  1. Indian Sugar Exports Soar Up To 5.62 Lakh Tonnes In December In terms of sugar exports, India, the largest sugar producer, ranks behind Brazil. India’s sugar prices on the 2nd of December’22 posted moderate losses due to an increased output of sugar in India as high output is bearish for the prices of the commodity. The Indian Sugar Mills Association (ISMA) on the 2nd of December reported that India’s October- November sugar production rose by 1.5% year-on-year to 4.79 Million Metric Tonnes (MMT) which has kept India as the world’s largest sugar producer. Indian exporters and mills signed several agreements for the export of sugar due to its bumper production of the designated 60 lakh tonnes of sugar and since the deliveries ought to be completed by end of March’23.

  2. India’s Sugar Exports Indian exporters exported a record 111 lakh tonnes of sugar in the 2021-22 fiscal year. Indian sugar is highly demanded in the local markets and as per the All India Sugar Trade Association (AISTA), India has exported 5.62 lakh tonnes of sugar so far in the 2022-23 financial year that began in October as per a report released by AISTA on 20th December’22. In November’22, the Indian Government allowed for the export of 60 lakh tonnes of sugar in the current (2022-23) marketing year (October-September). As per AISTA, till 9th December’22 of the current fiscal year, sugar mills dispatched 12.19 lakh tonnes of sugar for exports, and out of these, the physical shipments that were completed stood at 5.62 lakh tonnes. Around 5.22 lakh tonnes of sugar are still underloading or are waiting for exports. A large volume of Sugar Exports has gone to the UAE, followed by countries such as Bangladesh, Indonesia, Somalia, and a few others in the same period. Changes In The Sugar Industry Due to the rise in the global prices of sugar, several sugar mills have been renegotiating their pre-agreed export contracts to command higher prices for sugar exports. Stocks of sugar companies also jumped up by 20% on the back of hope that the GOI would enhance the export quota after the numbers projected in the domestic production assessment in the month of January’23. The changes in guidelines in the past instilled a selling of quotas to some of the most prominent exporters which drove out small exporters but the recent changes in the guidelines have brought in favorable changes in the market which can be seen by the present number of exports. If you are an importer willing to buy bulk quantities of sugar or are an exporter thinking to grow your sugar business, then Tradologie.com is the right platform for you. Tradologie has 70,000+ registered vendors and 600,000+ registered buyers of various food and agro-commodities in its network and through the platform, you can buy or sell sugar in bulk with ease. To register as a buyer, click here. To register as a seller, click here.

  3. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels. For More Information Contact Us Tradologie Pvt.Ltd Contact Number - +91-8595957412, +91-120-4148741 Email Id - info@tradologie.com Address - Green Boulevard, Plot No. B-9/A, 6th Floor, Tower B, Sector 62, Noida, Uttar Pradesh 201309 (India).

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