NEW DELHI: India is likely to import 2 million tonnes sugar in 2016/17 season, an analyst at Rabobank Singapore said on Thursday, as back-to-back droughts ravaged cane crops in the top producing western state of Maharashtra.
The south Asian country’s production is likely to fall to 23.3 million tonnes in 2016/17 year starting from Oct. 1, Kelvin Chow told the Kingsman Asia Sugar Conference in New Delhi. Imports by India, the world’s biggest sugar consumer, could further support global prices trading near their highest level in four years.
