India is not considering allowing sugar exports until at least the first half of the next season, as the government is worried the El Nino weather pattern could reduce rainfall and dent production, government sources said on Monday.
India, the world's second biggest sugar exporter, usually decides the amount of the sweetener mills can export before the start of the new marketing year on Oct. 1. The delay in shipments from India could support global sugar prices , trading near multi-year highs.
"In any sugar season, it takes at least a few months to get a clear idea about production, and that's why we will wait until there's an absolutely clear picture about production," said another government official, who also declined to be identified.A government spokesperson did not immediately respond to a request for comment.
Due to the lower output, India allowed exports of 6.1 million tonnes for this season. As the quota is exhausted, India is currently not exporting sugar.
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