Brazil accounts for 35-45% of the global sugar trade. (symbolic picture)
Brazil Due to adverse weather conditions in Sugar There has been a decline in production, due to which its export from India is expected to increase. India’s sugar exports are estimated to increase from 9 million to 10 million tonnes in the sugar season of 2022, starting in October. This has been estimated in a report.the financial express Based on the report of India Ratings (Ind-Ra), it has been told that due to low production of sugar in Brazil due to adverse weather conditions and delay in harvesting, the total exports in the sugar season 2022 increased from 9 million tonnes to 10 million tonnes. will go. Brazil saw a 40 percent decline in production in May on an annual basis. In the season 2021, sugar exports to India stood at 7.2 million tonnes.
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The Ind-Ra report said Brazil is the largest exporter of sugar, accounting for 35-45 per cent of the global trade. India’s share may increase to around 15 per cent in the current season due to the fall in its exports.
However, Ind-Ra believed that production has picked up again after the fall in production in Thailand for two consecutive seasons. In such a situation, India’s exports will not exceed 10 million tonnes.
Meanwhile, international sugar prices hit a five-year high of 20 cents a pound in April 2022 with two consecutive seasons of declining production.
However, there were reports that in order to stop the rising prices of sugar and to meet the needs in the country, the central government had announced a ban on the export of sugar after wheat from June 1. From June 1, some restrictions will be imposed on sugar exports. In such a situation, it has to be seen that according to the report of India Ratings, how much India’s sugar export can give competition to Brazil.
