Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
Indian sugar exporters almost exhaust shipments quota.
Jan 04, 2023
Indian sugar exporters have almost exhausted the 6 million tonnes (mt) export quota allocated by the Centre for the current sugar season (October 2022-September 2023), striking to sell nearly 5.5 mt by December 31.
'Deals to export 5.3 mt to 5.5 mt have been signed for sugar. Only a small quantity is left now for shipments,' said Rahil Shaikh, Managing Director, MEIR Commodities India Pvt Ltd.
'The 6 mt export quota has almost been sold. The Centre may have to come up with a second tranche of allocation to allow additional volume,' said Praful Vithalani, Chairman, All India Sugar Traders Association (AISTA).
Surplus production
In its weekly sugar report, UK-Based Marex Group said only 0.7 mt remained to be sold out of the 6 mt export quota. 'Although India’s exports will be down, the net result will be to produce a 3-5 mt surplus in 2023,' it said.
'The going is good on sugar exports. About 1.5 mt have been physically shipped out. The movement was affected after some deals were renegotiated since some sellers defaulted,' said an industry source, not wishing to be identified.
'Almost all of the deals signed by December 31 will be exported by March 31,' said Shaikh.
While white sugar has been contracted at over $530 a tonne, raw sugar has been sold at $510 with a 200-point premium for consignments with 96 per cent polarisation.
Key buyers
London white sugar futures are currently quoted at $547.30 a tonne for delivery in March, while raw sugar futures on InterContinental Exchange, New York, are ruling at 18.59 cents a pound (?34,250/tonne) for March.
MEIR Commodities’ Shaikh said Bangladesh, Iran and Indonesia have emerged as the biggest buyers of Indian sugar this season. 'Some consignments are heading to Dubai too,' he said.
Marex said parity for Indian sugar exporters was 'sky high'. Domestic sugar prices are currently ruling at ?3,200-3,250 a quintal,
Trade sources said reports of Indonesia wanting to import 3.5 mt of raw sugar was keeping the market interested. 'We have nothing more to give after exhausting the export quota,' said AISTA’s Vithalani.
Export cap
Trade sources said the Centre may review the sugar production scenario after January before deciding on allowing further exports. According to the Indian Sugar Mills Association (ISMA), sugar production is projected to be a record 36.5 mt this season against 36 mt last season. The output is up 3.5 per cent in the first three months, ISMA said.
'Production of sugar is good this season,' said Vithalani. 'The yield got affected due to rains in November-December but the situation is neither alarming nor worrisome,' said Shaikh. 'The situation will be clear in a week to 10 days time,' he said. Trade sources said production in Uttar Pradesh has also been affected.
The Indian government capped sugar exports at 10 mt last season after record shipments raised fears of a domestic shortage. In order to ensure ample stocks during the festival season, it capped the exports from June 1, 2002. Still, it allowed an additional 1.2 mt, taking total shipments to a record 11.2 mt.
In view of last season’s experience, the Centre permitted sugar exports from November 2022, only fixing a 6 mt quota. It has also stipulated that the shipments must be done by May 31.
Besides sugar production being estimated at a record high, about 4.5 mt of sugar is being diverted for the production of ethanol, a new high.
ISMA said there is scope for the export of 9 mt of sugar this season which would leave 5.5 mt of closing stocks, the same as last season after domestic sales of 27.5 mt.
thehindubusinessline.com
Archive