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Sugar exports rise on weak rupee, strong demand from Indonesia, Iran

Sugar mills have already dispatched 3.7 million tonnes out of around 4.1 million tonnes of contracts signed for exports in the 2019/20 marketing year ending on September 30

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Sugar exports

Agencies 

sugar
In the last few days, Iran and Indonesia were buying for May and June shipments

from India have risen due to good demand from Indonesia and Iran as the rupee slid to a record low, increasing exporters’ margins from overseas sales, three industry officials told Reuters.

“In the last few days, Iran and Indonesia were buying for May and June shipments,”Rahil Shaikh, managing director of trading company MEIR Commodities India, told Reuters.

Indian sugar mills have already dispatched 3.7 million tonnes out of around 4.1 million tonnes of contracts signed for exports in the 2019/20 marketing year ending on September 30, Shaikh and two other dealers with global trading firms, said.

First Published: Fri, May 08 2020. 02:32 IST
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