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Analyst Insights Analyst Insights India’s White Sugar Exports Drop to 9-Month Low

August 9, 2021

1 min read

India’s White Sugar Exports Drop to 9-Month Low

  • India’s mills have almost exported a record 6.5m tonnes of sugar so far this season.
  • Exports continue to flow, with 338k tonnes nominated for shipment in August.
  • Most of these nominations are for raw sugar, however, with whites exports dropping to a near halt.

Whites Exports Slow with Renewed COVID Restrictions

  • India exported less than 100k tonnes of white sugar in July; flows have not dropped this low since November last year.
  • Demand for white sugar has been slow as COVID restrictions across Asia have impacted sugar consumption.
  • As it stands, just 37k tonnes of white sugar has been nominated for shipment in August.
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Raws Exports Hold Strong

  • India’s raw sugar exports remain strong, however, with 301k tonnes already in the August line-up.
  • Raws exports through the monsoon season have been far better than previous years as the mills have been able to viably export sugar without a subsidy.
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  • The coastal refineries have bought about a third of this sugar in the last few months as the freight’s far cheaper than it would be if importing from Brazil.
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Coastal Refineries Push Past Weak White Premium

  • The coastal refineries’ exports look more promising this month, despite the weakness in the white premium.
  • 124k tonnes has been nominated already; such a pace hasn’t been seen since March.
  • 64k tonnes of this sugar is destined for Sudan, with a further 50k tonnes for Ethiopia.
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Coastal Refineries Push Past Weak White Premium

  • The coastal refineries’ exports look more promising this month, despite the weakness in the white premium.
  • 124k tonnes has been nominated already; such a pace hasn’t been seen since March.
  • 64k tonnes of this sugar is destined for Sudan, with a further 50k tonnes for Ethiopia.
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Ben Seed

Ben joined Czarnikow’s analysis team in 2016 on a year long internship before returning to the University of Bath to complete an Economics Degree. Since re-joining in August 2018, Ben has led the data insights team in expanding the range and quality of data available internally and to clients through Czapp. Ben spent 3 months in Czarnikow’s Singapore and Bangkok offices to expand his knowledge of the region and help roll out the latest data processes. He is now also responsible for the Sugar Market View published each week on Czapp.

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