India Set to Ban Sugar Exports for First Time in 7 Years

Kamis, 24 Agustus 2023 | 00:05 WIB
India Set to Ban Sugar Exports for First Time in 7 Years
[]
Reporter: Sumber: Reuters | Editor: Syamsul Azhar

KONTAN.CO.ID -  MUMBAI/NEW DELHI. India is expected to ban mills from exporting sugar in the next season beginning October, halting shipments for the first time in seven years, as a lack of rain has cut cane yields, three government sources said.

India's absence from the world market would be likely to increase benchmark prices in New York SBc1 and London LSUc1 that are already trading around multi-year highs, triggering fears of further inflation on global food markets.

"Our primary focus is to fulfill local sugar requirements and produce ethanol from surplus sugarcane," said a government source who asked not to be named in line with official rules. "For the upcoming season, we will not have enough sugar to allocate for export quotas."

India allowed mills to export only 6.1 million tonnes of sugar during the current season to Sept. 30, after letting them sell a record 11.1 million tonnes last season.

In 2016, India imposed a 20% tax on sugar exports to curb overseas sales.

Monsoon rains in the top cane-growing districts of the western state of Maharashtra and the southern state of Karnataka - which together account for more than half of India's total sugar output - have been as much as 50% below average so far this year, weather department data showed.

Patchy rains would cut sugar output in the 2023/24 season and even reduce planting for the 2024/25 season, an industry official, who declined to be named, said.

Local sugar prices SUG-MMZR-NCX jumped this week to their highest level in nearly two years, prompting the government to allow mills to sell an extra 200,000 tonnes in August.

"Food inflation is a concern. The recent increase in sugar prices eliminates any possibility of exports," said another government source.

Retail inflation in India jumped to a 15-month high of 7.44% in July and food inflation to 11.5% - its highest in over three years.

India's sugar production could fall 3.3% to 31.7 million tonnes in the 2023/24 season.

"We've allowed mills to export large volumes of sugar during the past two years," said the third government source. "But we also have to ensure sufficient supplies and stable prices."

India surprised buyers last month by imposing a ban on non-basmati white rice exports. New Delhi also imposed a 40% duty last week on exports of onions as it tries to calm food prices ahead of state elections later this year.

A Mumbai-based dealer with a global trade house said lower output in Thailand was also expected to reduce shipments and major producer Brazil would alone not be able to fill the gap.

Bagikan

Berita Terbaru

Titian Panjang Unilever Melaju di Lintasan Keberlanjutan
| Minggu, 22 Juni 2025 | 06:10 WIB

Titian Panjang Unilever Melaju di Lintasan Keberlanjutan

PT Unilever Indonesia Tbk menyusun aksi keberlanjutan dari hulu ke hilir. Salah satu prioritasnya adalah, memangkas pemakaian plastik baru. 

 
Melongok Usaha Resto yang Tak Sekadar Bikin Kenyang Tapi Bisa Bikin Senang
| Minggu, 22 Juni 2025 | 05:05 WIB

Melongok Usaha Resto yang Tak Sekadar Bikin Kenyang Tapi Bisa Bikin Senang

Tak cukup bikin kenyang, restoran bisa bikin anak senang. Pelanggannya kaum urban yang mencari alternatif makan sambil melihat anak senang. 

Bisnis Layar Bioskop Membentang di Musim Liburan
| Minggu, 22 Juni 2025 | 04:55 WIB

Bisnis Layar Bioskop Membentang di Musim Liburan

Pemilihan genre film menjadi strategi pelaku bisnis bioskop mengalap berkah penonton saat musim libur sekolah. Siapa yang cuan?

 
Mengawal Urusan Perut
| Sabtu, 21 Juni 2025 | 11:56 WIB

Mengawal Urusan Perut

Urusan perut alias pangan adalah hajat hidup setiap orang. ​Di sisi lain, banyak proyek menjadi bancakan banyak pihak dan berujung ke meja hijau.

Dari Pedagang Menjadi Bos Menara Telekomunikasi
| Sabtu, 21 Juni 2025 | 09:15 WIB

Dari Pedagang Menjadi Bos Menara Telekomunikasi

Rudolf Parningotan Nainggolan melihat peluang bisnis penyewaan menara telekomunikasi dari bahan tesis yng disusunnya.

Profit 30,27% Setahun, Harga Emas Antam Hari Ini Naik Lumayan (21 Juni 2025)
| Sabtu, 21 Juni 2025 | 09:14 WIB

Profit 30,27% Setahun, Harga Emas Antam Hari Ini Naik Lumayan (21 Juni 2025)

Harga emas Antam hari ini (21 Juni 2025) Rp 1.942.000 per gram. Di atas kertas pembeli setahun lalu bisa untung 30,27% jika menjual hari ini.

Penjualan Paperocks Indonesia (PPRI) Diprediksi Melemah di Kuartal II
| Sabtu, 21 Juni 2025 | 08:45 WIB

Penjualan Paperocks Indonesia (PPRI) Diprediksi Melemah di Kuartal II

PPRI memperkirakan adanya risiko kenaikan kertas yang digunakan perusahaan dengan potensi kenaikan harga sebesar 5%-7%.

Blue Bird (BIRD) Geber Belanja Modal Rp 1,8 Triliun
| Sabtu, 21 Juni 2025 | 08:30 WIB

Blue Bird (BIRD) Geber Belanja Modal Rp 1,8 Triliun

Hingga kuartal pertama 2025, perseroan sudah merealisasikan penggunaan capex sebesar 30% atau setara dengan Rp 540 miliar.

Lotte Chemical Titan (FPNI) Incar Pertumbuhan Kinerja 5%
| Sabtu, 21 Juni 2025 | 08:10 WIB

Lotte Chemical Titan (FPNI) Incar Pertumbuhan Kinerja 5%

FPNI menili tahun ini masih penuh tantangan. Ini karena persaingan yang ketat dan tekanan margin akibat tingginya biaya produksi.

Blue Bird (BIRD) Geber Belanja Modal Rp 1,8 Triliun
| Sabtu, 21 Juni 2025 | 07:58 WIB

Blue Bird (BIRD) Geber Belanja Modal Rp 1,8 Triliun

Hingga kuartal pertama 2025, perseroan sudah merealisasikan penggunaan capex sebesar 30% atau setara dengan Rp 540 miliar.

INDEKS BERITA

Terpopuler