Heavy rains to delay sugar cane crushing in top producer India
Heavy rainfall has spoiled Indian sugar mills' plans for an early start to cane crushing so raw sugar exports could get underway before supplies start coming on the market from rival exporter Thailand.
It is reported by Mint.
The delay in cane crushing in the world's biggest sugar producer and the second biggest exporter could push back shipments of raw sugar from India and may support global prices.
India has received 88% more rainfall than normal so far in October.
Western state of Maharashtra and neighbouring Karnataka, the country's biggest and the third-biggest sugar producing states, have had heavy rains, while the second biggest producing state of Uttar Pradesh got a heavy downpour last week.
The three states account for more than three-quarters of the country's sugar output.
Mills in Maharashtra were planning to start crushing in mid-October and produce raw sugar for the exports, said a Mumbai-based dealer with a global trading firm.
«Mills have already signed export contracts for November and December shipments. They would be under pressure to churn out raw sugar as early as possible after crushing starts», — the dealer said.