Indian sugar mills rush export deals on record-low rupee

Indian sugar mills have returned to the export market, locking in 100,000 metric tonnes of shipments in a week after a slump in the rupee to a record low and a rally in global prices restored the economics of overseas sales, five dealers told Reuters.

- 

Shipments from the world’s second biggest sugar producer will help Asian and African consumers to secure sugar at lower prices amid rising freight and global prices, which are trading near the highest level in five months.

"The war has suddenly changed everything. It has pushed global sugar prices up in anticipation of higher ethanol demand and dragged the rupee down to a record low," said a Mumbaibased dealer with a global trade house.