Sugar next on export watchlist after wheat

Weeks after implementing curbs on wheat exports to ensure food security, the Indian govt now plans to restrict sugar exports to prevent a surge in domestic prices.

According to reports, the new move to curb sugar export is being seen by some as a new risk to global food prices.

News agency Reuters has reported that it could potentially cap this season's exports at 10 million tonnes.

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This would be the first such restriction in six years. India is the world's biggest sugar producer and the second
biggest exporter behind Brazil.

The major importing countries are Indonesia, Afghanistan, Bangladesh, Malaysia, Sri Lanka, the UAE and African countries.

The average retail price of sugar in is about Rs 41.50 per kg in India and is likely to remain in the range of Rs 40-43 per kg in the coming months.

Domestic status

Sugar exports rose by 64 per cent to 71 lakh tonnes during the October 2021-April 2022 period on better demand for the Indian sweetener in global markets, according to a statement by the industry body Indian Sugar Mills Association (ISMA) on May 19. It added that 43.19 lakh tonnes of sugar were exported during the corresponding period of the last year.