The foods and beverages industry is prone to ups and downs in financial terms. However, over the last decade, the Agri-commodity sector has witnessed constant growth. Especially, if we particularly talk about the Sugar Exports market.
The global sugar trade is around 64 million tons per year. Raw sugar accounts for around 60% of worldwide commerce volumes. Although more than 120 nations produce sugar, the top 5 Sugar Exporting Countries (Brazil, Thailand, India, Australia, and Guatemala) accounted for approximately 70% of global commerce in 2016-18.
Sugar is derived from two major crops: sugarcane and sugar beet, which are grown in various regions across the world. Sugar beet grows best in chilly, wetter climates. There are more than 120 Sugar Producing Nations around the globe.
Indian sugar export subsidies will not be renewed before state elections finish next month, trade and government sources said on Thursday, with New Delhi examining the level of subsidy needed to encourage shipments of surplus sugar.
The Indian government has accumulated data on excess sugar stock this year.To clear the stock and free millers from the losses, the government has granted 3 more months for the sugar export.
Subsidies have been granted so millers can export effortlessly. To know more about the grants and why this step was initiated, tap the link.