Traders in deals to export around 6,000 tn sugar at $300 per tn, fob.

The new season, Indian sugar traders are likely to have already signed deals to export around 6,000 tn sugar. Deals were signed at a freight-on-board price of around $300 per tn for export to Sri Lanka and African countries. There has been an overall demand for low-quality white sugar from Colombo (Sri Lanka) and African countries such as Sudan. The deals follow government’s recent announcement of financial assistance of 55.38 bln rupees for the sugar sector, with an aim to facilitate exports of up to 5 mln tn in 2018-19 (Oct-Sep). The Union Cabinet approved a subsidy of 138.8 rupees per tn of cane crushed in 2018-19 and a transport subsidy of 1,000-3,000 rupees per tn, for sugar exported during the season.