Indian imports of more than 1 million tons of sugar can strengthen market

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Until September 30, the end of the current global crop, India is expected to import 1.4 million tons of sugar, according to ED & F Man trading. Thus, the sugar market may already show changes as imports and lack of the country´s ability in exporting the national surplus will strengthen global prices of raw sugar in New York, according to the trading in an interview to Reuters.

According to the Agency, about 1.135 million tonnes have already arrived in the country. In total, India should produce 25 million tonnes of sugar in 2012/2013, compared to an annual consumption of around 23 million tonnes. According to Reuters, the Indian sugar production in 2013/ 2014 is expected to fall to 23.5 million tonnes due to drought in some producing states like Maharashtra and Karnataka.


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