India is likely to export 600,000-700,000 metric tons of sugar in the season to the end of September despite the government allowing 1 million tons of exports, a member of the Indian Sugar & Bio-Energy Manufacturers Association (ISMA) said on Thursday.
The world’s second-biggest sugar producer set the 1-million-ton export allowance in January because the government and industry believed there was a surplus for overseas markets. Since then, industry groups have lowered their output forecasts for the current year, raising concerns over potential supply shortages.
