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India to Allow 1 Million Tons of Sugar Exports in 2024-25

 

India is set to permit the export of 1 million metric tons of sugar during the current season, according to government and industry sources. The move aims sugar mills clear surplus stock an help bilize domestic prices, even as production is expected to fall below consumption for the first time in eight years.

Key Highlights

1. Export Authorization

• The government is expected to issue an official order s allowing sugar mills to export 1 million tons of sugar.

• This decision marks a significant shift, as no exports were allowed during the 2023-24 marketing year.

2. Impact on Global Markets

• India's re-entry into the export market could exert downward pressure on global sugar prices,given its significant role as the world's second-largest sugar producer.

3. Support for Domestic Mills

• The export allowance offers relief to sugar mills struggling with low domestic prices, currently at their lowest in 18 months.

• Industry experts believe this limited export could provide a financial boost, especially as next year's production outlook is optimistic.

Production and Consumption Dynamics

Consumption Trends

• Domestic consumption is estimated at over 29 million tons, indicating a potential shortfall for the first time in nearly a decade.

India's Position Global Sugar Trade

• Between 2017 and 2023, India emerged as the second-largest exporter of sugar, shipping an average of 6.8 million tons annually.

• Key export markets include Indonesia, Bangladesh, and the UAE.

• The decision to resume exports, albeit at limited volumes reflects India's

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 CoinDesk Bitcoin Price Index is down $5796.99 today or 5.67% to $96461.57

• Largest percentage decrease since Dec. 18, 2024, when it dropped 5.71%
• Down two of the past three days
• Up 3.26% month-to-date
• Up 3.26% year-to-date
• Down 9.62% from its all-time high of $106734.51 on Dec. 17, 2024 (based on 4 p.m. levels)
• Up 106.77% from 52 weeks ago (Jan. 9, 2024), when it traded at $46651.27
• Down 9.62% from its 52-week high of $106734.51 on Dec. 17, 2024 (based on 4 p.m. levels)
• Up 146.32% from its 52-week low of $39161.76 on Jan. 23, 2024 (based on 4 p.m. levels)
• Traded as low as $96130.41
• Down 5.99% at today's intraday low; Largest intraday % decrease since Dec. 18, 2024, when it was down as much as 6.09%

Note: CoinDesk Bitcoin Price Index (XBX) at 4 p.m. ET close

Data compiled by Dow Jones Market Data

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Quadrant Future Tek Limited IPO (Quadrant Future Tek IPO) Detail

 Quadrant Future Tek IPO is a book built issue of Rs 290.00 crores. The issue is entirely a fresh issue of 1.00 crore shares.

Quadrant Future Tek IPO bidding opened for subscription on January 7, 2025 and will close on January 9, 2025. The allotment for the Quadrant Future Tek IPO is expected to be finalized on Friday, January 10, 2025. Quadrant Future Tek IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, January 14, 2025.

Quadrant Future Tek IPO price band is set at ₹275 to ₹290 per share. The minimum lot size for an application is 50. The minimum amount of investment required by retail investors is ₹14,500. The minimum lot size investment for sNII is 14 lots (700 shares), amounting to ₹2,03,000, and for bNII, it is 69 lots (3,450 shares), amounting to ₹10,00,500.

XAUUSD SIGNALS

 XAUUSD 2468$ to 2522$

Economic calander

 *Key Events This Week:**

1. **OPEC Monthly Report** - Tuesday  

2. **August CPI Inflation Data** - Wednesday  

3. **Initial Jobless Claims Data** - Thursday  

4. **August PPI Inflation Data** - Thursday  

5. **Continuing Jobless Claims Data** - Thursday  

6. **MI Consumer Sentiment Data** - Friday  

This is the final week of inflation data ahead of the much-anticipated September Fed meeting. #MarketWatch

Xauusd updates

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