Commodity Profile for Sugar, September, 2017

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1 (As on ) Commodity Profile for Sugar, September, 2017 Contents 1. Sugar Estimates for India World Sugar Estimates Production, Area under cultivation and Yield of Sugarcane and Sugar Major Sugar Producing Countries of world Major Exporting and Importing Countries of Sugar India s Major Export Destinations and Imports Sources Trade Flow for India Movement of Domestic as well as International Price of Sugar Futures prices Sugar Future Prices Prices of Sugar in Bench Mark Domestic Markets State Advised Cane Price Trade Policy Export Policy Import Policy

2 1. Sugar Estimates for India (Crop Year: October 2016 to September 2017) (Unit:LakhTonnes) Table 1: Sugar Production, Trade, Consumption and Availability Particular July, 2017 Source (Provisional) (Actual) Opening Stock N.A. ^ DoF&PD Production DoF&PD Total Imports 22.97* DoC Availability Total Exports 17.93* DoC Consumption 255 DoF&PD Ending Stock N.A. # DoF&PD Source: Department of Food & Public Distribution (DoF&PD), Department of Commerce (DoC) For preparing provisional balance sheet for production and consumption have been taken from balance sheet of Department of Food& PD. Export and Import taken as last three years average. Availability: opening stock in central pool plus production plus Total Imports; Total Availability for Domestic Consumption: Availability minus (total export plus ending stock in central pool). ^Month wise opening stock is not maintained. *: The figure of export and imports for October- July, Crop of yet to arrive. Therefore, actual data is awaited. # Actual ending stock data will be available at the end of the year. 2. World Sugar Estimates ( ) (Unit: Lakh Tonnes) Table 2: World Sugar Production, Consumption, Trade and Stock Particular * * World Production Human Consumption Total Import Total Export Ending Stock Source: United States Department of Agriculture, *Estimated Estimates shows that world sugar production has been declining since

3 Lakh tones 3. Production, Area under cultivation and Yield of Sugarcane and Sugar Crop/marking Year Table 3: Production, Area Under Cultivation and yield of sugarcane and Sugar Area Production (Lakh Tonnes) (lakh Hectares) Sugarcane Sugar Sugarcane Yield (Tonnes/Hectares) # * Source: Department of Food & Public Distribution (for Sugar Production) and Agricultural Statistics (for production and area of Sugarcane). # 4 rd Advance Estimate ( ) of DAC&FW *1 st Advance Estimate ( ) of DAC&FW released on India s sugar production has increased in last 10 years at CAGR of 2.63 percent. During the same period, India s sugarcane production has increased at CAGR of 2.40 percent and area under cultivation at CAGR of 3.19 percent. 4. Major Sugar Producing Countries of world Figure 1 : Major Sugar Producing Countries 2013/ / /16 Source: United States Department of Agriculture India was the 2 nd largest producer of sugar in the world after Brazil in

4 Quantity (Lakh MT) Quantity (Lakh MT) India s share in the world production of sugar was 15 percent in Major Exporting and Importing Countries of Sugar Figure 2: Major Sugar Exporting Countries / / / Source: Comrade Brazil was the largest exporter of sugar followed by Thailand and Australia in In , India was the fourth largest exporter of sugar having a share of 4.55% in total global exports. Figure 3: Major Sugar Importing Countries / / /16 Source: Comtrade China, European Union, Indonesia, USA, UAEwere the major sugar importing countries in the world in

5 Value in Rs. Crore Value in Rs. Crore 6. India s Major Export Destinations and Imports Sources Figure 4: Major Export Destination Source: Department of Commerce The major export destinations for India in were Myanmar, Somalia, Sudan, Djibouti and UAE. Export to Myanmar has decreased slightly than previous year Figure 5: Major importing sources BRAZIL U S A ITALY U K NEW ZEALAND Source: Department of Commerce Substantial part of India s sugar imports (around 99.68%) came from Brazil in India s imported negligible amount of sugar during the same year from USA, Italy and UK. 5

6 Jan/12 Mar/12 May/12 Jul/12 Sep/12 Nov/12 Jan/13 Mar/13 May/13 Jul/13 Sep/13 Nov/13 Jan/14 Mar/14 May/14 Jul/14 Sep/14 Nov/14 Jan/15 Mar/15 May/15 Jul/15 Sep/15 Nov/15 Jan/16 Mar/16 May/16 Jul/16 Sep/16 Nov/16 Jan/17 Mar/17 May/17 Jul/17 7. Trade flow of India (Unit: Lakh Tonnes) Table 4: Trade Flow for India during to Year Export Import (Apr-July) Source: Department of Commerce. Trade figure shows, that India has been exporting more sugar than that of its import since Movement of Domestic as well as International Price of Sugar Comparison Between Domestic Sugar Prices & International Sugar Prices (In Rs./Ton) Source: Agmarknet (for Domestic price),london International Financial Futures Exchange (LIFFE) (for international price) Domestic Sugar Prices (All India Average) The international prices of sugar has been lower than domestic price from November, 2016 onwards. Domestic sugar prices surged in the recent monthsin view of expectation of global sugar deficit forecast for this year. Green Pool predicted a global sugar supply deficit of 8.51 MT in (October- September) and a deficit of 6.5 MT in (October-September) following a drop in sugarcane crop in India and Thailand due to the adverse EI Nino effect. 6

7 9. Futures prices 9.1 Sugar Futures Price Futures Month Table-5: Sugar Futures Price (Raw Sugar) Source: London International Financial Future & Option Exchange (LIFFE) (Unit: Rs/Quintal) % Change over Previous Year 5 September, Week Ago Month Ago Year Ago August, August, September, 2016 Oct, Mar, May, Source: Intercontinental Exchange (ICE), New York Futures Month 5 September, 2017 Table 6: Sugar Futures Price (White Sugar) Week Ago 29 August, 2017 Month Ago 5 August, 2017 Year Ago 5 September, 2016 (Unit: Rs/Quintal) % Change over Previous Year Oct, Dec, Mar, Future Prices of sugar (raw sugar as well as white sugar) are expected to decrease over the previous year as shown in the Table 5 & Prices of Sugar in Bench Mark Domestic Market (Unit: Rs/ Quintal) Table 7: Prices of Sugar in Bench Mark Domestic Market Today 6 September, 17 Week ago 30 August, 17 Month Ago 6 August, 17 Year Ago 6 September, 16 % Change over Previous Year Sugar : S Grade Erode Kolhapur Sugar : M Grade Delhi Erode Kanpur Kolhapur Kolkata MuzaffarNagar Source: National Commodity & Derivatives Exchange Limited (NCDEX) Domestic prices of sugar in major markets in September, 2017 were higher compared to same period in the previous year. 7

8 10. State Advised Cane Price (Unit: Rs/Tonnes) Table 8: State Advised Cane Price State All India (FRP) UP Maharashtra NA NA Punjab Haryana Gujarat NA 2500 NA NA - - Andhra Pradesh NA Karnataka Tamil Nadu Source: Agriwatch NA: Not Available 11. Trade Policy Export Policy: Export duty of 20% has been imposed on sugar videdeptt. of Revenue Notification No. 37/2016-Customs dated 16/06/2016. Raw Sugar imported under Advance Authorization Scheme shall be exempted from export duty of 20% as clarified by DoR vide Notification No. 41/2016-Customs dated Table 9: Export Policy HS Code Item Description Export Policy Nature of Restriction (a) Sugar* Free (b) Preferential Quota Sugar to EU under CXL Quota (c) Sugar to USA under TRQ Free Free The Certificate of Origin shall be issued by Additional DGFT, Mumbai. The exporters shall be required to furnish the details of actual exports (viz. quantity, value, destination, name & address of foreign buyer etc) to the Additional DGFT, Mumbai as well as to APEDA, New Delhi. This will be subject to quantitative ceiling notified by DGFT from time to time. The quota will be operated by APEDA, New Delhi as per the modalities and operational guidelines to be notified by APEDA. The exporters shall be required to furnish the details of actual exports (viz. quantity, value, destination, name & address of foreign buyer etc) to APEDA, New Delhi. Certificate of Origin, if required, shall be issued by Additional DGFT, Mumbai. This will be subject to quantitative ceiling notified by DGFT from time to time. Source: Directorate General of Foreign Trade (DGFT), Department of Revenue *: Export of Pharmaceutical Grade Sugar would not be subject to registration requirement. 8

9 Export of organic sugar without any quantity limits, is permitted till the time export of sugar is Free. Such export is subject to following conditions: Sugar should be duly certified by APEDA as being organic sugar; Prior registration of quantity with DGFT through online system has been dispensed with vide Notification No. 20/ dated 7 th September,2015. a. Import Policy: The current applied duty on import of all types of sugar is 40%. Table 10: Import Policy Exim Code Item Description Import Policy Bound Duty Standard Duty 1701 Cane or Beet Sugar and Chemically Pure Sucrose In Solid Form Applied Duty# Beet sugar Free 150% 100% 50% Cane sugar specified in Subheading Note 2 to this Chapter: Cane jaggery Free 150% 100% 50% Khandsari sugar Free 150% 100% 50% Other Free 150% 100% 50% Other cane sugar: Cane jaggery Free 150% 100% 50% Khandsari sugar Free 150% 100% 50% Other 150% 100% 50% Refined sugar containing Free 150% 100% 50% added flavouring or colouring matter Other: Sugar cubes Free 150% 100% 50% Other Free 150% 100% 50% Beet sugar Free 150% 100% 50% Source: Directorate General of Foreign Trade (DGFT), Department of Revenue and World Trade Organization (WTO). # Applied duty on sugar was increased from 40% to 50% vide Notification No. 66/2016-Customs dated 10 th July, ##Duty Free Import Authorization Scheme shall not be available for imports of raw sugar vide DGFT s notification No. 5/ dated 1 st May, The requirement of registration of quantity with DGFT for export of sugar has been dispensed with vide DGFT s Notification No. 20/ dated **** Disclaimer: The information and opinions contained in the document have been compiled from various sources believed to be reliable. This Department will not be liable for any losses and damages in connection with the uses of the information provided in the commodity profile. 9

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