India sets sugar export target of 4 mn tonnes for mills

India's food ministry on Friday set a sugar export target of 4 million tonnes for mills in the next season starting Oct. 1 to cut large stockpiles, which would help clear huge sugarcane dues to farmers but add to a global glut.

The government has specified targets for individual mills based on their average production in the last three years, a statement said.

India's food secretary said last week the government was working on a multi-year plan to boost sugar exports, targeting markets in Africa, China and neighbouring countries. Reuters reported about the plan early last month.