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India’s sugar exports seen lower than earlier estimate

Reutres .India is likely to export 4.5 million tonnes of sugar in 2019/20, down almost a fifth from an earlier estimate, as a drop in global prices due to the coronavirus outbreak makes overseas sales unprofitable for mills, a senior industry official said.

Lower exports from the world’s biggest sugar producer could support global prices that have fallen nearly a third from a February 12 peak and help rivals such as Brazil to increase exports.