• It seems India will fail to fulfil its 6m tonne sugar export quota this season, due to the ongoing container shortage. 
  • As it stands, it has exported 2.3m tonnes of sugar in 2020/21. 
  • This is concerning because the first half of the year is the prime for India to export, as the monsoon makes logistics more challenging in Q3. 
  • In an effort to fulfil as much of its quota as possible, we think India will look to export more sugar in bulk vessels, as these are easier to get hold of at present. 
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