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    Commodity Champions: Experts discuss 2022 outlook for sugar business

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    Commodity Champions: Experts discuss 2022 outlook for sugar business

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    Gurdev Gill, Agricultural Options Broker at Marex Spectron and Atul Chaturvedi, Executive Chairman at Shree Renuka Sugars discussed how do things look for India's sugar business in 2022 and how will India's ethanol drive impact the country's sugar sector.

    In the global sugar sector, things are quite sweet for the producers with the prices in 2021 surging 21 percent. In the face of ever growing global demand, tight supply owing to labor shortages along with transportation and supply chain snarls have pushed prices higher for the third consecutive year. S&P Global estimates that global demand will continue to rise in the next 6 years with the deficit estimated at 1,485 million tonne. However the scenario is far sweeter back home in India with the rising demand providing the country's sugar mills massive export opportunities.
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    The world's second largest producer of sugar is already expected to sell more than six million tonne of sugar on the world market this year. This comes despite the World Trade Organization ruling that the country flouted rules by offering export subsidies with the subsidies having been removed since.
    India's export scenario seems clear for takeoff. Domestically, the scenario is equally sweet as India's ethanol story as well pushing up allowing producers to divert sugar cane thereby avoiding excess production. Gurdev Gill, Agricultural Options Broker at Marex Spectron and Atul Chaturvedi, Executive Chairman at Shree Renuka Sugars discussed how do things look for India's sugar business in 2022 and how will India's ethanol drive impact the country's sugar sector.
    Watch the accompanying video for the entire discussion.
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