India's sugar exports are expected to weaken by 28.57% at around 8 million MTS in the 2022-2023 season on projected lower initial balance supply and greater diversion for ethanol, as stated by a food ministry official. The food ministry official also stated that, whether to allow export under an open general authorization or the current quota system will be decided after evaluating the price situation once the sugarcane crushing operation starts. Sugar season starts from October 2022 to September 2023. The cane crushing season usually begins in October 2022 – November 2022 and continues till mid-April 2023. Sugar exports are projected to be at 11.2 million MTS in the present season. Ministry officials said that total sugar production is anticipated to be good, but exports will decrease next season. The sugar supply is seen to be at a low level with an initial balance of 6 million MTS in the next season. There is also a probability of higher diversion of cane for ethanol. In the previous years, India had an initial balance of sugar between 8-10 million MTS.

Sugar production in Brazil's main Center-South area is projected to total 2.85 million MTS in the first half of August 2022, reflecting a 5% year-on-year decline, as per the results from an S&P Global Commodity Insights survey of 11 analysts released on August 23, 2022. For the duration of the survey, the cane crush estimation fluctuated from 37 million MTS to 43.8 million MTS. The average estimate was for a total cane crush of 41.4 million MTS, a decrease of 7.5% on the year. The quantity of cane used for sugar production is anticipated to be 47.75%, up from 46.89% a year earlier. Brazilian manufacturers took advantage of the current high price of ethanol during the early periods of the harvest, but now sugar mills are shifting their cane crush toward sugar production.

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

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