Sugar exports to Iran are expected to remain low despite the announcement of subsidies

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Mumbai, Ta. 23 December 2020, Wednesday

India's sugar exports to Iran may not be particularly encouraging this year. Due to increase in sugar production in Iran and shortage of rupee for sugar purchase, Iran is expected to import limited sugar from India.

The Indian government had last week announced an export subsidy of 3 million tonnes of sugar.

The subsidy has been announced keeping in view the abundant sugar stocks in the country, to make it easier for sugar mills to clear the stocks.

In the sugar year 2017-20, which ended on September 30, Iran imported 11.50 lakh tonnes of sugar from India. This figure is about twenty per cent of India's total sugar exports.

In the current sugar year, Iran is likely to import barely four to five lakh tonnes of sugar from India, said an official of the Indian Sugar Mills Association (ISMA).

Iran is also facing a shortage of Indian rupee. Iran cannot trade in dollars due to US sanctions. India announces sugar export subsidy for third year in a row

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