Sri Lanka to import Indian sugar

Indian sugar mills have been contracted to export 50,000 tonnes of white sugar to Sri Lanka, Myanmar, Afghanistan and Turkmenistan at US$ 340-345 a ton.The cargoes are for the July shipment.India, the world's biggest sugar consumer, has signed the export deal due to a sharp fall in local prices. After a sustained drop in the past 10 days, local ex-mill sugar prices have reduced to Rs 19,200 a tonne, pushing mills to take export orders.After five years of surplus production, India is now experiencing a crash in sugar prices.

(Moneycotnrol.com)