Sri Lanka has developed as the largest sugar importer by contributing nearly half of India's total sweetener exports during the current season beginning October 2018.
Data compiled by the apex industry body All India Sugar Trade Association (AISTA) shows India’s total sugar exports to Sri Lanka at 84,536.90 tonnes. With 16,801 tonnes and 15,340 tonnes, United Arab Emirates and Somalia have become the second and third largest importer of Indian sugar, respectively. Total exports between October 1 and December 5, 2018 stands at 179,849 tonnes.
Apart from this, a quantity of 155,830 tonnes is in pipeline (waiting to load) to move in December 2018/early January 2019, out of which 113,360 tonnes are raw sugar to be dispatched to port-based sugar refineries for shipment. During this period, India exported sugar to 20 countries, of which Sri Lanka has emerged as the largest buyer.
Faced with supply glut pressurising sugar prices regularly, the Indian government has visited a number of countries to shell out some of the extra stocks.
Now, with the global sugar supply forecasted to remain in deficit this year, India has a fair chance of exports to the world market.