- We said the whites market would tighten if the Indian government took any longer to award the export subsidy; this is exactly what’s happened.
- India’s government met, failed to discuss both sugar and ethanol, and the white sugar price climbed up towards $379/mt.
- This upward trend could continue for as long as the Indian government takes to reach a decision.
- However, COVID-induced travel restrictions could soon slow cane cutting and potential container shortages at Indian ports could be bullish for the world market if they transpire.
- If they don’t, India could dominate the world’s white and refined sugar supply.
Other Opinions You May Be Interested In…
- India: A 7m Tonne Sugar Export Subsidy in 2020/21?
- Brief Market Overview: White Sugar Prices Under India’s Thumb
