Indian Sugar Sector - Firmed-Up International Prices Brighten Prospects For Sugar Exports: ICRA
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ICRA Research Report
The global sugar production for SY22 is expected to grow by around six million metric tonne to 186 million metric tonne in SY21/22 despite lower production expected in Brazil (by around two million metric tonne) as per U.S. Department of Agriculture estimates released in May 2021.
This is on account of the higher production expectations from India, European Union and Thailand.
During the past three sugar seasons, the subsidy announced under the Export Policy by the Government of India made sugar exports commercially viable.
Supported by the higher international prices since early 2021, the industry is estimated to export around seven million metric tonne during SY21, one million metric tonne higher than the assigned quota of six million metric tonne.
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