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Indian traders sign sugar export deals in advance as frost hits Brazil
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Last Updated: Jul 29, 2021, 05:19 PM IST
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Synopsis
Sugar production in Brazil, the world s biggest producer and exporter, is likely to drop due to a drought and frost that has damaged the sugarcane crop.
Agencies
The country is set to export a record 7 million tonnes of sugar in the ongoing 2020/21 marketing year ending on Sept. 30.
Indian traders for the first time have signed sugar export contracts five months ahead of shipments as a likely drop in Brazil s production prompted buyers to secure supplies from the South Asian country in advance, five trade sources told Reuters.