India mills seen using half of import quota
Indian sugar mills and refiners are likely to import only half of the allowed duty free quota. Falling domestic prices have eroded profitability. Imports are expected to stay under five hundred thousand tons.
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India's sugar mills and refiners will likely import just 500,000 metric tons of raw Sugar under a recent duty-free quota. The government opened the 1-million-ton quota last week to cool record-high domestic prices ahead of the festival season. Falling domestic prices have narrowed import margins, dampening appetite among millers, according to industry officials.
