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  • India exported 832k tonnes of sugar in February, up 17k tonnes from the record Jan’20 shipments.
  • March shipments eleven days in have shown a strong pace too, with 487k tonnes already nominated.
  • February also saw the strongest flow of raw sugar exports from domestic mills we have seen since May’19.

Total Exports

  • India exported 832k tonnes onto the world market in Feb’20, up from 611k tonnes year-on-year (YoY).
  • March’s line up is already promising with 487k tonnes having been committed less than halfway through the month.
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Domestic Mill Exports  

  • 662k tonnes of raw and white sugar were exported from Indian mills last month.
  • March’s exports have started very well with 364k tonnes in the line-up already.
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  • February saw 476k tonnes of raw sugar ‘exported’ almost exclusively to Iran, Malaysia and coastal refineries, up from 290k tonnes in January.
  • March already has 221k tonnes contracted, bringing this season’s raws exports up to 2.6m tonnes.
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  • Mill exports of white sugar in Feb’20 were far slower than they were in the same period last season, down 77k tonnes YoY.
  • Malaysia’s strong raws offtake in February was due to Iranian payment difficulties meaning approximately 150k tonnes of sugar was diverted elsewhere.
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Coastal Refinery Exports  

  • Indian coastal refineries have exported at a slower pace in Feb’20 than they did in the same period last year.
  • They only exported 103k tonnes, compared to 171k tonnes; this is a YoY decrease of 39%
  • Shipments to Somalia and Ethiopia seemed to have slowed over the past two months, compared the average flows seen in the same period last year.
  • Sudan’s offtake, on the other hand, is increasing rapidly; February’s offtake turned out to be its largest in seven months.
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Will Langston

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