Indian mills sign sugar export deals without govt

MUMBAI: Indian sugar mills have for the first time in three years agreed export agreements without the support of government subsidies as they scramble to pay dues owing to farmers, four industry officials told Reuters.

So far they have contracted 10,000 tonnes of white sugar for exports in the new season that began on Oct. 1, which they face selling at a loss, potentially weighing on international prices.

India is the world’s biggest consumer of sugar, but as the second biggest producer, produces more than required.—Reuters