Insight Focus

  • Indian mills cannot sell any more sugar for export this season as there are no more licenses left.
  • At today’s prices mills would need the No.11 higher than 18.7c/lb, and the No.5 above 472USD/mt for exports to be workable.
  • However, mills are unlikely to sell until there is more certainty from the government on exports for next season.
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Spot Export Parity Update

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Explainers That May Be of Interest…


Czapp Explains: The Indian Ethanol Industry

Jay Kindred

Jay has worked at CZ since 2019, starting as a market analyst before becoming a trader on the CZ derivatives desk in 2023.

As an analyst Jay had been responsible for providing regular content to our premium sugar analysis subscription as well as presenting our current market view to clients.

Since transferring into a trading role Jay has been developing and expanding CZ’s derivatives risk management offering across a broader suite of commodities and instruments.

He holds a BSc (Hons) in Economics from the University of Bath.

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