Sugar mills have so far shipped 4.75 million tonnes of the sweetener in the current marketing year, which ends in September, with the majority of shipments going to Indonesia.
A further four hundred and thirty thousand tonnes of sugar have been contractual zed without any subsidy aid on the OGL route. In addition, but in small quantities, sugar exports to Iran began. It added approximately 6,982 tones shipped to Iran in June.
The year in which sugar is sold is from October to September states that from 1 January to 6 July 2021, mills exported 4.75 million tonnes of sugar. Output to Indonesia was up to 1.58 million tonnes, followed by Afghanistan at 5,82,776 tonnes and the United Arab Emirates at 4,47,097 tonnes. Sri Lanka was up to 3,63,972 tonnes from the total exports undertaken to date.
In addition, increasing the price of crude oil has made ethanol production attractive.
Currently, for the month of October 2021, the international price of raw sugar is about 18 cents per pound.
“We consider that the international prices may remain stable in the coming months, given the present situation of sugar demand and supply in the international market,” according to the analysis.
