• India’s sugar exports decreased by 268k tonnes in June.
• This is primarily due to a reduced offtake from both Indonesia and Iran.
• The domestic mills have exported 4.7m tonnes of sugar since the start of October out of a 6m tonne export quota.

Domestic Mill Exports

• India’s mills exported 392k tonnes of raw and white sugar in June, down 268k tonnes from May.
• Their export pace had been stable since lockdown started back in March, and this is the first notable drop.
• Indonesia and Iran reduced their raw sugar offtakes in June, declining by 140k tonnes and 63k tonnes respectively from May.
• This drop off put the domestic mills’ exports at a seven-month low.

• The mills exported 203k tonnes of raw sugar in June, down by 173k tonnes from May.
• 59k tonnes are in the line-up so far in July.

• The mills’ white sugar exports have returned to levels seen in Apr’20 after increasing by just shy of 100k tonnes in May.

Indonesia’s Offtake Slows

• Indonesia imported Indian raw sugar for the first time in nine years back in April.
• Their reappearance came after a change to their import rules allowed them to trade sugar with India again; they imported 172k tonnes in total.
• This flow continued in June, but only marginally, with 14k tonnes of raw sugar going to Indonesia.

• Indonesia also imported 44k tonnes of white sugar in June.
• This reflects Thailand’s limited white sugar availability.

Coastal Refinery Exports

• India’s coastal refineries exported 138k tonnes of sugar in June; this is a decrease of 24k tonnes from May.
• No Indian ports have reported any operational restrictions yet, so the refineries will be hoping this strong flow can continue in July.