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Indian Sugar Exports Jumping as Brazil Drought Fuels Rally

Sugar shipments from India, the world’s second-largest producer, are poised to climb as the biggest monthly gain in prices since 2011 and a state subsidy help mills compete with supplies from Brazil and Thailand.

Shipments may total 2 million metric tons to 2.2 million tons in the year ending Sept. 30 if prices remain at current levels, said Rahil Shaikh, managing director of ED&F Man Commodities India Pvt. Exports totaled 1.3 million tons between October and February, compared with full-year sales of 345,000 tons in 2012-2013, according to the Indian Sugar Mills Association, or ISMA.