India's sugar exports during October-December period jumped nearly four-fold to 17 lakh tonnes on higher demand from overseas, according to industry body ISMA.
So far, 38-40 lakh tonnes have been contracted by mills for exports. Mills are now waiting for global prices to improve for further contracts.
Sugar marketing year runs from October to September.
"As per market reports and port information, about 17 lakh tonnes of sugar have been physically exported during the period October to December' 2021," ISMA said in a statement.
During the same period in the previous year, about 4.5 lakh tonnes of sugar were exported.
Further, ISMA said it is reported that about 7 lakh tonnes of sugar is in pipeline for export this month. "Amid news of expectedly better upcoming season 2022-23 (April – March) in CS Brazil, the global price of raw sugar has fallen further and is currently reeling at an over 5-month low at around 18 cents/pound," ISMA said.
According to the association, Indian mills are waiting for the opportune time and are in no hurry to enter into further export contracts, beyond 38–40 lakh tonnes already been signed so far.