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

Ekspor dan Konsumsi Minyak Sawit Indonesia Menurun pada Januari 2025
| Sabtu, 29 Maret 2025 | 21:27 WIB

Ekspor dan Konsumsi Minyak Sawit Indonesia Menurun pada Januari 2025

Ekspor minyak sawit pada Januari 2025 tercatat 1,96 juta ton, lebih rendah 100 ribu ton dibandingkan Desember 2024 yang mencapai 2,06 juta ton

Harga Gas Industri Melonjak, Aspebindo Desak Pemerintah Ambil Langkah Konkret
| Sabtu, 29 Maret 2025 | 20:39 WIB

Harga Gas Industri Melonjak, Aspebindo Desak Pemerintah Ambil Langkah Konkret

Harga gas telah meningkat sejak kuartal pertama 2024, dari sebelumnya US$ 10,2 per MMBTU menjadi US$ 14,27 per MMBTU

Belasan Saham Ini Akan Bagikan Dividen, Yield Tertinggi dari Saham Sektor Keuangan
| Sabtu, 29 Maret 2025 | 15:26 WIB

Belasan Saham Ini Akan Bagikan Dividen, Yield Tertinggi dari Saham Sektor Keuangan

Masih ada dividen dari beberapa emiten yang telah diumumkan sebelum libur panjang. Dividen besar terutama dibagikan oleh bank-bank BUMN.

Muncul Istilah 1% Saham Seri A Dwiwarna pada UU BUMN 1/2025, Typo Error?
| Sabtu, 29 Maret 2025 | 13:33 WIB

Muncul Istilah 1% Saham Seri A Dwiwarna pada UU BUMN 1/2025, Typo Error?

Sejumlah kepemilikan negara pada BUMN berupa saham Seri A Diwarna tak melulu berjumlah 1 saham, seperti pada PT Bukit Asam Tbk (PTBA). 

Perdagangan Saham Jelang Lebaran 2025 Turun Dibanding Periode Serupa di 2024
| Sabtu, 29 Maret 2025 | 12:30 WIB

Perdagangan Saham Jelang Lebaran 2025 Turun Dibanding Periode Serupa di 2024

Secara historis, dibandingkan periode yang sama di 2024, terjadi penurunan transaksi pada hari terakhir perdagangan sebelum libur lebaran 2025.

Margin Agribisnis Naik, Bisnis CBP Masih Berkontribusi Terbesar bagi Indofood (INDF)
| Sabtu, 29 Maret 2025 | 11:50 WIB

Margin Agribisnis Naik, Bisnis CBP Masih Berkontribusi Terbesar bagi Indofood (INDF)

Indofood Sukses Makmur (INDF) dan Indofood CBP Sukses Makmur (ICBP) berhasil mencetak kinerja keuangan yang kuat sepanjang tahun 2024.

Profit 32,67% Setahun, Harga Emas Antam Hari Ini Terbang (29 Maret 2025)
| Sabtu, 29 Maret 2025 | 09:38 WIB

Profit 32,67% Setahun, Harga Emas Antam Hari Ini Terbang (29 Maret 2025)

Harga emas Antam hari ini (29 Maret 2025) ukuran 1 gram Rp 1.792.000. Pembeli setahun lalu bisa untung 32,67% jika menjual hari ini.

Dimensional Fund Berinvestasi di 28 Saham IDX30, Mana yang Paling Banyak?
| Sabtu, 29 Maret 2025 | 09:17 WIB

Dimensional Fund Berinvestasi di 28 Saham IDX30, Mana yang Paling Banyak?

Dimensional Fund Advisors LP, manajer investasi berbasis di Texas, menyukai saham-saham dengan likuiditas tinggi dan market cap besar.

Saham-Saham Paling Jawara di Kuartal I-2025, Naik Ratusan Persen Saat IHSG Turun
| Sabtu, 29 Maret 2025 | 06:00 WIB

Saham-Saham Paling Jawara di Kuartal I-2025, Naik Ratusan Persen Saat IHSG Turun

Penguatan Indeks Harga Saham Gabungan (IHSG) sebesar 4,03% sepekan terakhir kuartal pertama 2025 tak mampu membalikkan kinerja sejak awal tahun.

Menaguk Cuan Dividen Emiten Bank, Yield Dividen Terbesar Masih dari Bank Pelat Merah
| Sabtu, 29 Maret 2025 | 03:50 WIB

Menaguk Cuan Dividen Emiten Bank, Yield Dividen Terbesar Masih dari Bank Pelat Merah

Dari tujuh emiten perbankan, PT Bank Rakyat Indonesia Tbk menjadi emiten yang membagi dividen paling besar.

INDEKS BERITA

Terpopuler