Singapore: India’s decision to restrict sugar exports will not affect the sugar supplies in Singapore, reports The Straits Times.
For the first time in six years, India restricted sugar exports to prevent a surge in domestic prices.
Though India is the second biggest exporter of sugar after Brazil, Singapore imports minimally from the country hence the Indian government’s recent decision won’t affect the country’s sugar supplies.
The country imports 5% of sugar from India and most of the sugar is imported from Thailand, Malaysia, South Korea, and Australia, said John Cheng, a director at sugar manufacturing business Cheng Yew Heng.
The company is a major sugar importer and the oldest sugar manufacturer of sugar in the country.
A spokesman associated with the sugar importer Hiang Li Traders said that Singapore imports sugar from Thailand and Malaysia.
“We shouldn’t be affected by India restricting sugar exports as the sweetener imported from India is minimal,” said the spokesperson.
The global shortage of sugar has triggered the demand, hence Indian government has taken a precautionary step by putting a cap on the export of sugar to 100 lakh metric tonnes (LMT).