Do More With Reuters
Partner Services

Asia Sugar-Thailand to cash in on India's fading exports

Fri Sep 19, 2008 2:22pm IST
 
Email | Print | | Single Page
[-] Text [+]

By Mayank Bhardwaj

NEW DELHI, Sept 19 (Reuters) - India's expected drop in sugar output and exports should bring cheer to traders in Thailand who stand to clinch bigger deals with Asian buyers such as Japan.

India, the world's biggest producer after Brazil, is expected to see sugar production fall 24 percent to 20 million tonnes in the sugar cane crushing season that begins next month, trade officials say.

Exports from India, also the biggest user of the sweetener, will plummet 78 percent to 1 million tonnes in the new season, they say, creating more room for Thai traders in the market.

"I have the impression that Thailand will definitely try to plug the gap," said Vinay Kumar, director general of the National Federation of Cooperative Sugar Factories.

Traders in Bangkok said buyers in the Middle East were likely to step up purchases of Thai refined sugar and the country had already contracted large export orders for the 2008/09 season that begins in November.

"It is a big amount," a trader, who did not wish to be identified, said about Thai contracted exports for 2008/09.

The cane crushing season in Thailand runs from November to April.

Thailand's buoyant sugar cane output, expected at up to 75 million tonnes in the new season, would help boost exports, traders said.  Continued...

special coverage

Budget 2009
Budget 2009

The government presents the budget for the full fiscal year 2009/10 on July 6.  Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Photo
Is the budget over-rated for personal finance?

Expectations are high given the outcome in the general elections.  Commentary 

 
Nilekani: Infosys' loss or govt’s gain?
Nilekani: Infosys' loss or govt’s gain?

Nandan Nilekani has resigned from the Infosys board to join the government.  Commentary | Slideshow 

 
Launched

Tata Motors announced the launch of Jaguar and Land Rover vehicles in India.  Slideshow | Video 

 
Satyam
The new Satyam

Stay updated with the developments at Satyam.  Full Coverage 

 
M&A Review
M&A Review

A review of mergers and acquisitions.  Full Coverage 

 
Financial Turmoil Timeline
Financial Turmoil Timeline

A round-up of measures taken by the U.S Federal Reserve since June 2007 to tackle the financial crisis.  Full Coverage