Comments
Exporters have signed deals to export 46 lakh tonnes of sugar, with physical sugar dispatches from sugar mills to ports and refineries estimated at 37 lakh tonnes from the start of the season on October 1, 2021, till now, the All India Sugar Trade Association (AISTA) has said.
In a press statement, AISTA said physical shipment done from October 2021 to January 2022 stands at 30,68, 697 tonnes. “The sugar mills in the States of Maharashtra and Karnataka continue to face the problem of railway wagons, as sugar for export is mainly getting lifted from these States only,” stated AISTA Chairman Praful Vithalani.
AISTA said international sugar prices are hovering around 18.25 US cents per pound. The funds have reduced their positions in recent past. The market trends shall depend upon the sugar production estimates of Brazil, the Brazilian sugar-ethanol ratio, weather conditions in the coming months in Brazil and Brazilian gasoline policy.
“Indian sugar mills continue to get the premium on their sugar and have sold in the range of 19.5 to 20 cents per pound equivalent. Mills in Maharashtra and Karnataka have sold raw sugar at ₹31 to ₹31.80 per kg,” AITSA said in the statement.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.