Indian sugar export to be much down against Gov target
11.01.2019 20:34 "Agro Perspectiva" (Kyiv) —
As to experts, the Indian 2018/19 MY (marketing year, started Oct 2018) sugar export will be significantly down against Gov-set 5 million tons due to the Indian rupee strengthening and global market sugar prices’ continuous decline (which make the sugar export unprofitable for the Indian producers even despite the Gov subsidies),
Ukrainian National Association of Sugar Producers says referring to the Reuters report.
As to experts, the Indian sugar export shortening can support the global market sugar prices (fallen over 20% within 2018); however, experts admit if India shortens its sugar export, Indian domestic sugar reserves will boost what in turn will prompt the Gov to provide a bigger support for the country sugar industry.
As to experts, within 2018/19 MY (marketing year, started Oct 2018), India will export in total 2.53.5 million tons sugar.
It is to be admitted, within Oct 2018, the Indian rupee strengthened by 5.5% what has made it impossible for the Indian sugar exporters to receive their profit margin.