India's MMTC tenders to sell and export 50,000 T sugar (updated)

MMTC

24/10/2018 14:39

(Adds detail, shipment periods)
    HAMBURG, Oct 24 (Reuters) - India's state-run trading
company MMTC Ltd  MMTC.NS  has issued an international tender to
overseas buyers to sell and export 50,000 tonnes of Indian white
crystal sugar, European traders said on Wednesday.
    The tender deadline is Oct. 31 and the sugar can be exported
from Indian east and west coast ports in breakbulk ships.
    There will be an option to purchase a further 50,000 tonnes,
they said.
    The Indian government in September approved incentives
including a transport subsidy for export and a direct cane
payment to farmers to encourage cash-strapped mills to export
surplus sugar.  urn:newsml:reuters.com:*:nL4N1WC3I7 
    Indian sugar mills have signed deals to export raw sugar for
the first time in three years as a recent rally in New York
prices along with the government subsidies made exports
lucrative, Reuters reported on Oct. 9.  urn:newsml:reuters.com:*:nL4N1WP33P 
    The MMTC tender seeks offers for at least 35,000 tonnes in
dollars a tonne FOB Indian ports.
    The initial 50,000 tonnes should be exported between Dec. 1,
2018, and Jan. 31, 2019, traders said. The optional 50,000
tonnes is for export between Jan. 1-31, 2019.
    Offers in the tender must remain valid up to Nov. 13.

 (Reporting by Michael Hogan, editing by Kirsten Donovan)
 ((michael.j.hogan@thomsonreuters.com; +49 40 419 03 4275;
Reuters Messaging:
michael.hogan.thomsonreuters.com@reuters.net))