Indian mills contract to export 2.7 million tonnes sugar: Trade body

New Delhi: Indian sugar mills have contracted to export 2.7 million tonnes of sugar since the current season began on Oct. 1, a leading trade body said on Thursday.

Mills have already shipped out 1.7 million tonnes of the sweetener, Praful Vithalani, president of the All India Sugar Trade Association, said.

Indian mills have sold nearly an equal quantity of raw and refined, or white sugar, for which the top destinations are Bangladesh, Sri Lanka, Somalia, Iran and Sudan, Vithalani said.

India, the world’s biggest sugar consumer, late last year approved incentives to encourage cash-strapped mills to export at least 5 million tonnes of sugar in the 2018-19 season to help prop up prices by trimming bulging stocks.