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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (36140)	6/27/2008 6:48:45 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 217570

MORE ON SUGAR - India May Not Export Sugar After January, Shree Renuka Says 2008-06-27 03:56 (New York) (received from Alon Fein) By Thomas Kutty Abraham June 27 (Bloomberg) -- India, the world's biggest sugar producer after Brazil, may stop exporting the sweetener from January as output declines, the country's biggest refiner said. Overseas sales in the year beginning October may decline to 1 million metric tons from an estimated 4 million tons this year, Narendra Murkumbi, Shree Renuka Sugars Ltd.'s managing director, said in a phone interview in Mumbai today. Lower Indian exports may boost sugar, which has gained 19 percent this year on expectation Brazil may divert more cane to produce ethanol on record crude oil prices. Global sugar demand may outstrip supply by 1 million to 2 million tons in the year ending September 2009, according to the International Sugar Organization. ``India will exhaust whatever surplus it will have between December and January,'' Murkumbi said. ``Lower Indian exports and more ethanol production in Brazil will keep the global sugar market tight.'' India's sugar output may decline to as low as 22 million tons in the year beginning October as farmers switch to more profitable crops such as soybeans, corn and lentils, Murkumbi said, reiterating a forecast in February. Indian Sugar Mills Association, a grouping of private sugar producers, expects the South Asian nation to resume imports of the sweetener in the year beginning October 2009. ``It's too early to take a call on imports,'' Murkumbi said. ``Even if the production falls next season, we may have sufficient stocks and exports will be the big casualty.'' India's government will end a freight subsidy of as much as 1,450 rupees ($34) a ton on Sept. 30, reducing Indian exporters' ability to compete with Brazilian and Thai suppliers, he said. Shree Renuka, which plans double its sugar production to 1.06 million tons in the year to September 2009, will import raw sugar later this year from Brazil and Thailand to feed a refinery in eastern India. *T For related news: