India allows sugar exports for third straight year

Tuesday, 1 January 2013 00:07 - - {{hitsCtrl.values.hits}}

Reuters: The Indian government has issued a formal order allowing mills to export sugar, a trade ministry statement said last week, permitting overseas shipments of the sweetener for the third consecutive year.

Earlier, the government had allowed mills in India, the world’s top sugar consumer, to ship out the sweetener until the end of the 2011/12 season. Mills shipped out more than 3.5 million tonnes of sugar in the previous season.

In India, also the world’s biggest producer of the sweetener behind Brazil, the sugar year runs from October to September. India is likely to produce about 24 million tonnes of sugar in 2012/13, down from 26 million tonnes in the previous year, but higher than about 22 million tonnes of local consumption.

On 1 October 2012, when the current season began, carryover stocks from the previous season were at about 6.5 million tonnes.