- India’s mills have almost exported a record 6.5m tonnes of sugar so far this season.
- Exports continue to flow, with 338k tonnes nominated for shipment in August.
- Most of these nominations are for raw sugar, however, with whites exports dropping to a near halt.
Whites Exports Slow with Renewed COVID Restrictions
- India exported less than 100k tonnes of white sugar in July; flows have not dropped this low since November last year.
- Demand for white sugar has been slow as COVID restrictions across Asia have impacted sugar consumption.
- As it stands, just 37k tonnes of white sugar has been nominated for shipment in August.
Raws Exports Hold Strong
- India’s raw sugar exports remain strong, however, with 301k tonnes already in the August line-up.
- Raws exports through the monsoon season have been far better than previous years as the mills have been able to viably export sugar without a subsidy.
- The coastal refineries have bought about a third of this sugar in the last few months as the freight’s far cheaper than it would be if importing from Brazil.
Coastal Refineries Push Past Weak White Premium
- The coastal refineries’ exports look more promising this month, despite the weakness in the white premium.
- 124k tonnes has been nominated already; such a pace hasn’t been seen since March.
- 64k tonnes of this sugar is destined for Sudan, with a further 50k tonnes for Ethiopia.
Coastal Refineries Push Past Weak White Premium
- The coastal refineries’ exports look more promising this month, despite the weakness in the white premium.
- 124k tonnes has been nominated already; such a pace hasn’t been seen since March.
- 64k tonnes of this sugar is destined for Sudan, with a further 50k tonnes for Ethiopia.
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