- India has now exported 5.2m tonnes of sugar this season.
- This is a 43% increase year-on-year.
- We think India will export its full 6m tonne subsidised export quota this season, and then subsidise exports again next year too.
Domestic Mill Exports
- India’s mills exported more than 500k tonnes of sugar in June.
- This was the sixth month in a row that sugar exports exceeded 500k tonnes.
- Preliminary figures for July also hint that exports were strong in that month too.
- Despite the coronavirus lockdown contributing to labour and documentary constraints, mill exports look on track for close to 6m tonnes of exports this season.
- With two more months to go until the end of the 2019/20 season, Indian mills have already exported 2.5m tonnes of raw sugar.
- In 2018/19, raw sugar exports totalled 1.9m tonnes.
Coastal Refinery Exports
- India’s coastal refineries exported 165k tonnes of sugar in July; this is an increase of 17k tonnes from June.
- We think a strong flow should continue with Thai refined availability dwindling at this time of year and Renuka’s Haldia sugar refinery restarting operations.
Other Opinions You May Be Interested In…
- The Indian Monsoon: Cane Continues to Thrive
- India Needs Another Large Subsidy to Export Sugar in 2020/21
