India had maintained a big impact on the global sugar prices and now is all set to be the net exporter of sugar. India always swings between the net importer and net exporter of sugar and finally approaching towards the net exporter of this sweetener.
The director general of the Indian Sugar Mills Association (ISMA), Abinash Verma, told an industry seminar “Barring an extreme weather event, the world’s second-biggest sugar producer and the top sugar consumer is set to cement its position as a net exporter because of remunerative sugarcane prices.”
In the two day International sugar seminar, Verma told in a keynote that “India is becoming a structurally surplus producer of sugar.”
In the coming years, India seems to witness a sharp rise in its production further that will elongate the path of more exports.
“A surplus is expected in the next few years at least,” Verma said, adding that he expects surpluses to average about 10 percent of annual domestic production.
Most sugar stocks edged higher, extending recent gains triggered by hopes that a shortage in sugar supplies globally may boost domestic sugar prices.
