India may import less sugar than predicted three months ago, after global prices surged to a four-year high and the first normal monsoon in three years boosted the outlook for domestic crop.
Imports may total 1.25 million metric tons in the year starting Oct. 1, the most since 2009-10, according to the median estimate of six traders and analysts.
That compares with 2.1 million tons of imports predicted in a June survey.
India may need imports as production is expected to fall,” Kona Haque, head of research at the London-based ED&F Man Holdings Ltd., said on Monday.
“The amount of imports will depend on what the final crop ends up being, world prices versus local prices and timing of the government’s intervention in import duties.”