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Thursday, October 11, 2007
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Commodity News
Oct 9 2007 10:54AM
Raw sugar export sales seen near 9-lakh tn

New Delhi, Oct 09 - Domestic mills are estimated to have so far sold between 8,00,000 metric tonnes and 9,00,000 tonnes of raw sugar for exports from the new harvest, Narendra Murkumbi, managing director of Shree Renuka Sugars said. Murkumbi said most of the sales are for deliveries between December and March.

"Mills have sold sugar for exports to the Middle East, Indonesia and Bangladesh," Murkumbi told Dow Jones Newswires. He said global prices are currently not very attractive for exports and it isn't viable to offer sugar below $265/tonne, free-on-board, as the Indian rupee has strengthened against the US dollar. India's sugar marketing year runs from October to September but several sales took place well in advance.

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