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  • Raw sugar export parity remains well within in negative territory; 19c/lb is where we’ll see unsubsidised raw sugar exports for 2020/21 become competitive.
  • The No.5 futures have strengthened slightly since last week; 480 USD/mt is where we’ll see unsubsidised low-quality white sugar exports for 2020/21 become competitive.
  • The USD/INR FX has remained stable this week, meaning it has no impact on export parity.
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