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HomeIndustry & UpdatesIndia could export 6 mln T of sugar in new marketing year...

India could export 6 mln T of sugar in new marketing year as prices jump -trade body

MUMBAI, Sept 9 (Reuters) – India is likely to export 6 million tonnes of sugar in the new marketing year starting from Oct. 1 as a rally in global prices due to a drop in Brazil’s output has made exports feasible for Indian mills, a leading trade body said on Thursday.

The world’s second biggest sugar producer is set to export a record 7 million tonnes of sugar in the current marketing year, banking on a government subsidy for overseas sales, the Indian Sugar Mills Association (ISMA) said in a statement.

The government has ruled out a subsidy for next season as global prices have jumped to a 4-year high.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The above news was originally posted on www.nasdaq.com

(Reporting by Rajendra Jadhav; editing by Jason Neely)

((rajendra.jadhav@thomsonreuters.com; +91-22-68414378 ; Reuters Messaging: rajendra.jadhav.thomsonreuters.com@reuters.net))

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