London/Mumbai: According to the news agency Reuters, Iran may import less sugar from India, the second-largest sugar-producing country, due to an increase in Iranian production and Tehran’s shortage of rupees limit buying. Iran is one of the most important customers of India. Recently, the central government approved the subsidy of Rs 3,500 crore to export around 60 lakh tonne of sugar.
Iran in the 2019-20 season had imported 1.14 million tonnes of sugar from India. This accounted for 20% of India’s sugar export.
A Mumbai based dealer associated with the global sugar export told Reuters, “Iran’s import requirement (from India) would be much smaller (this season). I think around 300,000-500,000 tonnes.”
In the previous season, India registered record sugar export. As the country is still with surplus sugar, mills will try to meet 60 lakh tonne sugar export target