Centre reallocates unused sugar export quotas to boost shipments

To reduce that debt and pare rising inventories, New Delhi has approved a subsidy of Rs 10,448 ($145) a tonne for exports of 6 million tonnes in the 2019/20 season.

India has reallocated unused sugar export quotas of more than 600,000 tonnes among mills after some producers failed to ship because of a drop in output, a government circular said on Monday.

The redistribution of quotas could lift exports from the world's biggest sugar producer in coming months and may weigh on global prices that hit a two-and-a-half-year high earlier this month. Export quotas of 611,797 tonnes have been redistributed after reviewing export performance of the mills, the Ministry of Consumer Affairs, Food and Public Distribution said in a circular.

Years of bumper cane harvests and record sugar production have hammered