India’s sugar exports at record 8.6 mn tonne till May this year: ISMA

According to the Indian Sugar Mills Association, it is reported that about 9.4-9.5 million tonnes worth of export contracts had already been entered into so far

Sugar exports from India, the world's largest producer and the second-biggest exporter of the sweetener, touched a record 8.6 million tonnes till May of the ongoing 2021-22 marketing year ending September, according to the latest data released by industry body ISMA on Wednesday.

The country had exported a total of 7 million tonnes of sugar in the 2020-21 marketing year, while domestic production stood at 31.19 million tonnes in the same period.

Last month, the government capped sugar exports at 10 million tonnes to ensure adequate domestic supply and check retail prices during the festival season in October-November. However, cooperatives have demanded raising the export cap by 1 million tonnes.

According to the Indian Sugar Mills Association (ISMA), it is reported that about 9.4-9.5 million tonnes worth of export contracts had already been entered into so far. Of this, about 8.6 million tonnes is reported to have been physically exported till end of May 2022.

About 16 million tonne of sugar is estimated to have been sold in the domestic market during the October-April period of the current marketing year, higher by 7,50,000 tonne from 15.26 million tonne in the year-ago period.

Further, domestic sugar sales quota released by the government up to June is higher by 5,50,000 tonne as against corresponding period last year.

Considering this, ISMA estimates domestic sugar consumption in the current marketing year to be at 27.5 million tonne, as against 26.55 million tonne in the previous year.