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The slower pace of shipments from India, the world's second biggest sugar producer, will support global prices, which this week fell to their lowest in three years.
India on Monday allowed exports of 1 million tons of sugar during the current season to September 2025 to help mills export surplus stocks and prop up local prices.
«After exports were allowed, local prices jumped nearly 10%. Mills are now seeking hefty premiums over global prices to export their allocated quotas,» said a Mumbai-based dealer with a global trade house.
The Food Ministry has allocated mills a uniform export quota of 3.174% of their three-year average production, which they can export directly or via merchant exporters.
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