India , the world's second largest sugar producer, has seen its exports halted as dealers have not signed new contracts in five days following a surge in local prices, based on expectations of lower output. The country has contracted to export 1.6m tonnes of sugar since 2016-2017 began on 2016-2017 , with 1.3m tonnes shipped so far. The government was instrumental in persuading mills to agree to a target of 3.2 million tonnes of sugar exports in 2015/16. With predictions of lower output and higher local prices, traders say India may not be able to meet its export target. As we highlighted last week , adverse weather conditions have hit global sugar producing countries leading to expectations of an impending sugar shortage. According to India , sugar is running at a deficit that is due to reach 4.95 metric tonnes in last week , which could have a knock-on effect on companies using sugar in their production.
India , the world's second largest sugar producer, has seen its exports halted as dealers have not signed new contracts in five days following a surge in local prices, based on expectations of lower output. The country has contracted to export 1.6m tonnes of sugar since 2016-2017 began on 2016-2017 , with 1.3m tonnes shipped so far. With predictions of lower output and higher local prices, traders say India may not be able to meet its export target. As we highlighted last week , adverse weather conditions have hit global sugar producing countries leading to expectations of an impending sugar shortage. According to India , sugar is running at a deficit that is due to reach 4.95 metric tonnes in last week , which could have a knock-on effect on companies using sugar in their production.