Global sugar prices soar to five-year high: Bright prospects for export growth from India

- Ubhi Bazar ઃ Dilip Shah

- Egypt's buyers turn to Indian sugar as Brazil's supply declines: Country's sweets called for globalization

The equations in the sugar market and industry have been changing rapidly recently. The country's 2020-21 sugar season has recently come to an end at the end of September and there have been indications that sugar exports from India have increased significantly this past season. India's demand for sugar has been overseas. In view of this, the government has also become active in increasing the domestic sugar production. As per the directions received recently, the Union Ministry of Food has started paying attention in this direction. The Food Ministry has also called for research to increase sugar consumption. The Ministry has called upon all the representatives involved in the sugar market and industry to take various steps for the development of the sugar industry and increase the production of sugar in the country. According to sources in the sugar industry, various suggestions have been made by the Food Ministry at a recent program of the National Sugar Institute. Is. In the season of 2020-21, the export of sugar from the country has been about 21 lakh tonnes. Meanwhile, there has been some encouraging news recently in the sugar export sector. There are rumors that sugar exports from India to Egypt have started.

According to export market sources, Brazil's sugar supply to the world market has recently fallen short of expectations and this has led Egyptian buyers to order Indian sugar. Meanwhile, according to trading agency sources, about 15,000 to 18,000 tonnes of Indian sugar has recently entered the Egyptian market. According to these sources, India's S-20 type white sugar containing 100 ICUMSA has been exported to Cairo in Egypt. On the one hand, Brazil's supply of sugar in the world market has decreased, while on the other hand, as the corona and lockdown eased and the reopening process started, the demand and consumption of sugar in the world market has also increased. In such an environment, India's demand for sugar in the world market has recently increased, market sources said. In the wake of the supply deficit in the world market, there have been indications from the world market that the recent rise in sugar prices has reached a new high of about 4 to 5 months. In such an environment, an advantage-like situation has arisen for India. There have been indications that the price of raw sugar in the world market has recently reached close to 30 cents per pound. White sugar prices have surpassed the 200 per tonne mark in the world market, trading at around ૦ 210 to ૫ 215. Meanwhile, the demand for ethanol in India is increasing. The central government has set a target of increasing the blending of ethanol in petrol from around 4 to 5 per cent to close to 30 per cent in three years. As a result, sugarcane growers are also expected to benefit. Meanwhile, the Food Ministry has called for efforts to increase the consumption of Indian sweets in the world market in the same way that chocolate is currently widely consumed in the world market. If the global consumption of Indian sweets increases, the demand for sugar produced in the country will also increase significantly. Meanwhile, sugar consumption in the country and demand for sugar has increased by about 3 to 4 per cent in ten years and has now reached the level of 4 to 5 lakh tonnes per annum. In ten years, the country's sugar production has more than doubled, said veteran representatives of the sugar industry. The quality of sugar produced in India is lauded in the world market. Can Indian sweets be used in the same way that chocolate is widely used all over the world? Such a question has been discussed at the government level and discussions have been heard in Delhi that efforts have been started for this. If this happens then the demand for sugar can increase significantly and if the demand increases then the production can also increase. That is what the experts said. This would also reduce the burden of export subsidies on the government, Food Ministry sources said.