Sugar exports from India affected due to container shortage

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Mumbai: Shortage of containers would lower the export of sugar by 12% to 5 million tonnes this year, said industry experts.

Lowering of sugar export from India in the first half of 2021 would help Brazil to increase export during the second half of the year.

According to the news agency Reuters, Prakash Naiknavare, managing director, National Federation of Cooperative Sugar Factories Ltd said, “We have signed exports contracts for about 3 million tonnes but managed to ship only around 1 million tonnes.”

India is expected to export 5 million tonnes of sugar in the 2020-21 season which is lower than last year’s export of 5.7 million tonnes, he said.

The government has set a target of exporting 6 million tonnes of sugar and has approved a subsidy of Rs 5,833 per tonne to boost exports.
The Pandemic and the geo political tension between India and China have led to the shortage of containers, said industry experts.

 

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