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SUGAR REPORT | 23.11.2021 | MARKET COMMENTARY | SEBAT GROUP

SUGAR REPORT | 23.11.2021 | MARKET COMMENTARY

Sugar prices on Monday closed moderately lower, with London sugar falling to a 1-week low. Robust sugar export sales from India pressured sugar prices. The Indian Sugar Mills Association (ISMA) said India currently has an opening balance of +8.18 MMT of sugar as of Oct 1 and needs to export about 6 MMT in 2021/22, although that would be 15% y/y less than 7.1 MMT in 2020/21. Millers have shipped 270,000 MT of sugar in Oct and are expected to export more than +200,000 MT in Nov.  



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