According to the industry body, Indian Sugar Mills Association, the country's sugar exports during the period of October to December 2021 increased nearly four-fold to 17 lakh MTS on greater international demand. ISMA also added that 38-40 lakh MTS have been contracted by sugar mills for exports. Sugar Millers are now waiting for global prices to improve for more deals. India’s sugar marketing period is from October 2021 to September 2022. ISMA Stated that, as per market reports and port data, about 17 lakh MTS of sugar have been physically exported throughout the period of October to December 2021. During the same period in the previous year, an estimated 4.5 lakh MTS of sugar were traded.

Indian sugar traders are waiting for the appropriate time and are in no rush to sign up for further export agreements, past 3840 lakh MTS has been contracted to date. ISMA also stated that India has produced 151.41 lakh MTS of sugar between October 1, 2021, to January 15, 2022, period of the current 2021-22 marketing year, as compared to 142.78 lakh MTS in the same period of the previous marketing year.

Bangladesh sugar traders stated that sugar importers increased the price of sugar despite a downward curve on the booking value of sugar in the global trade in recent periods. The price of sugar has increased in the domestic trade despite a reduction in the international market for the last one month, one sugar trader added. One sugar wholesaler said that in the winter period sugar demand certainly decreases by about half.  The Bangladesh Sugar and Food Industries Corporation (BSFIC) and TCB stated that the yearly demand for sugar in Bangladesh is 15-17 lakh MTS. An estimated 7-8 % of the sugar demand is met with the government supply. 15 government-owned enterprises distribute only 1.5 lakh MTS. Furthermore, the government also imports some sugar through TCB at different times.  The rest of the sugar resource comes from Imports by private businesses.

Tags: International Exporters, International Importers, Sugar Market News, Sugar Import, India's Sugar Export 

Disclaimer: The information in this news is provided solely for informational purposes and Factrade is not liable for any actions taken based on this news. All information in this news is believed to be obtained from reliable resources and Factrade makes no representations as to its completeness or accuracy.