Brief Market Overview: Whites Price Rises as We Await Indian Subsidy

Will Langston

We said the whites market would tighten if the Indian government took any longer to award the export subsidy; this is exactly what’s happened.
India’s government met, failed to discuss both sugar and ethanol, and the white sugar price climbed up towards $379/mt.
This upward trend could continue for as long as the Indian government takes to reach a decision.
However, COVID-induced travel restrictions could soon slow cane cutting and potential container shortages at Indian ports could be bullish for the world market if they transpire.
If they don’t, India could dominate the world’s white and refined sugar supply.

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