Indian sugar mills’ interest in signing export contracts has waned after an increase in domestic sugar prices started giving better returns.
Domestic sugar prices have improved by about 9% in a month’s time to touch Rs 3,430/quintal ex-mill for S30 grade sugar on the back of strong demand for festivals and a relatively empty pipeline.
Sugar from India will be in demand this year help keep a check on global prices of the commodity.
India has signed a contract for export of 1.2 million tonnes of sugar, with Uttar Pradesh mills accounting for only 16% of the share due to strong profitability …
