News: The government plans to regulate sugar exports and would allow 10 MT of exports in current sugar season. Sugar mills have already contracted for 9 MT of exports and already exported 7.8 MT.
Views: With 10 MT of exports, 35.7 MT of sugar production & 27.8 MT of sugar consumption, closing sugar inventory would be close to 6.0 MT. This would keep sugar prices firm. We believe this would not have any impact on sugar companies’ fundamentals .
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