23 June 2000
India targets local sugar exports
INDIA is targeting Pakistan, Bangladesh and Sri Lanka for the export of 1 million tonnes of surplus sugar, reports the Financial Times.
The Indian Sugar Mills Association says India is the cheapest source of imports its neighbours need.
Industry official s say that despite white sugar prices rising from $170/t at the start of the year to $240 now, factories are losing $47/t.
Export is the favoured means to reduce bulging domestic stocks.