Sugar mills in India have exported 24.96 lakh tonne of the commodity in the ongoing 2020-21 season with Indonesia accounting for the maximum shipments (contributing 38.5% of the total exports so far), according to All India Sugar Trade Association (AISTA). An added 3.03 lakh tonne of sugar is in transit and delivered to port-based refineries, the trade body stated. The nation is nicely on course to comprehensive the 60-lakh tonne mill export target this year with Indonesia, Afghanistan and Sri Lanka emerging as the best 3 purchasers, AISTA vice-chairman Rahil Shaikh stated.
Mills have contracted to export 33.38 lakh tonne of sugar so far as against the 60 lakh tonne quota assigned by the meals ministry, AISTA stated. According to industry sources, contracts for 49 lakh tonne have been signed by exporters. Of the total exports undertaken so far, 9,61,594 tonne of sugar was exported to Indonesia, 3,08,302 tonne to Afghanistan and 2,46,391 tonne to Sri Lanka till April 9 this year, AISTA stated
Of the total exports, raws portion is about 19 lakh tonne and the remainder is whites, Shaikh stated. He felt that the total physical exports could touch 55 lakh tonne this season. The Covid issue and the commencement of the monsoon could bring down exports by about 5 lakh tonne, he pointed out, adding that with the start off of the Brazil season, their sugar could be a lot less expensive globally.
Shaikh stated that for the very first time, Indonesia matched its high-quality specifications with India and hence exports from India have been higher. Moreover, Brazil had an off-season among December 2020 to March 2021, which gave Indian exporters an chance to export more sugar to the nation, he stated.
Last year, Iran was the best export location for Indian sugar with 11 lakh tonne. This year, nevertheless, exports to Iran did not take location due to currency problems, he stated. UAE emerged as a new industry this year for Indian exporters. Somalia and Bangladesh have been other important markets for Indian sugar accounting for 1,90,864 tonne and 1,42,434 tonne, respectively.
Sugar exporter Abhijit Ghorpade stated that the exports have picked up pace in spite of the delay in the announcement of the export policy and the container shortages. At least 7 lakh tonne are physically exported each and every month for the final 3 months, he stated.
Meanwhile, AISTA, which completes 5 years this month, stated that the body will quickly revise upwards domestic sugar production estimates to 350 lakh tonne for the 2020-21 marketing and advertising year from earlier projections of 299 lakh tonne. Consumption will be pegged at 255 lakh tonne.