16-Sep-2013
India may export 1 million to 3 million tonnes of sugar in the new season beginning in October to ease excess supply and tap rising demand from the Middle East and Indonesia, analyst Jonathan Kingsman told Reuters on Monday.
India, the world's largest sugar consumer, has been exporting sugar in recent years after a severe drought in 2009 forced it to turn to imports, sending global prices to their highest in decades.
"Indonesia's economy is doing very well, overall consumption is rising and there is more demand for processed food, making it a very big market now," said Kingsman, who is the head of agriculture for data and information provider Platts.
"Increasingly, I see raw sugar demand going up in the Middle East which otherwise was buying more white sugar," he said on the sidelines of a conference in the Indian capital.
Kingsman gave no estimates for exports in the current crop year ending September, but the Indian Sugar Mills Association ( ISMA), a producers' body, said exports are expected to be around 300,000 tonnes for the year.
Source:- economictimes.indiatimes.com
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