The sugar exports from India is expected to remain profitable due to rise in global sugar prices.
Speaking to CNBC-TV18, Abinash Verma, Director-General of ISMA said, “The global sugar prices have again moved up beyond 20 cents. The dry weather in Brazil is expected to lower the sugar output in that country and Thailand’s sugar production is yet to return to a normal level. So, I think the global prices would remain bullish and we will see another couple of cents higher from where it is today.”
“When sugar output in Brazil and Thailand are lower, we have surplus sugar production. We have managed to reduce the opening stock to 8.5 million tonnes from 14.5 million tonnes two years ago and despite this we have surplus sugar. World prices are very good, therefore even without a subsidy we are in a position to export into the international market,” he further added.
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