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Sugar Exporters Losing Sleep Over Lean Orders, Dwindling Prices 26 Dec 2011  
Sugar Exporters Losing Sleep Over Lean Orders, Dwindling Prices

Sugar Exporters Losing Sleep Over Lean Orders, Dwindling Prices

 

NEW DELHI, Dec. 25 despite cane-crushing activity being in full swing and millers faced with liquidity issues grappling to sell sugar in the domestic market, exporters woes are compounding due to dearth of orders from key buyers like Pakistan, Bangladesh and Sri Lanka, in addition to falling global prices.

Mr. Abinash Verma, Director-General of the Indian Sugar Mills Association (ISMA), pointed out that buyers were adopting a wait-and-watch policy as prices were on the downtrend due to a global surplus.

Since the government gave the nod for exports of one million tonnes and notified it early this month, the Directorate of Sugar has issued export permits for only 22,578 tonnes.

Pointing out that the recent decline in the rupee against the greenback had not brought any cheer to exporters, a senior executive of a prominent sugar factory elucidated that the reason could be that the decline in global prices had come at a faster pace compared to the currency depreciation.

A point to be noted is that exporters are making Rs 4-5 a kg more than the domestic realizations, depending on the quality of sugar and the country to which it is exported.

 

 

(Source Exim India: Dt. 26.12.2011)

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