India may export 700k tonnes of sugar

GENEVA, April 24 (Reuters): India is likely to export 600,000-700,000 tonnes of sugar in the season to the end of September despite the government allowing 1 million tonnes of exports, a member of the Indian Sugar & Bio-Energy Manufacturers Association (ISMA) said on Thursday.

The world's second-biggest sugar producer set the 1 million tonne export allowance in January because the government and industry believed there was a surplus for overseas markets.

Since then, industry groups have lowered their output forecasts for the current year, raising concerns over potential supply shortages.

"We'll probably export 600-700kt (thousand metric tons) by the end of September," Kiran Wadhwana, ISMA member and Executive Director of International Trading Co, told the S&P Global sugar conference in Geneva.