NEW DELHI: India, the world’s second-largest sugar producer, may export 1.5 million metric tons in the year through September, according to estimates released by the London based Czarnikow Sugar Ltd, which is the world’s second largest sugar broker.
India has sold 250,000 metric tons abroad since it lifted an export ban in January and the prospects of enhanced production look bright.
The re-emergence of India as a sugar exporter on the world market may “pressure” prices. Refined, or white, sugar futures fell $1.10 (Rs47.0), or 0.3% to $343.70 (Rs15,480) a metric ton at 11:09 a.m. on the Euronext.liffe exchange. They dropped 3.5% last year after surging 37% in 2005.