A Sweet News
17/09/2021
It looks like our sugar traders would soon be on a sugar high as they are now gearing up to witness a bumper export season with the international price of the commodity at a four-year high of around 20 cents/lb. This rise in costs and higher demand from diverse markets comes after Brazil's steep fall in sugar production and also the resulting supply chain issues. Along with sugar, India's rice exports' forecast appears bright as analysts believe India is on the course to dominate the global rice trade in 2021, with the new port capacity promising to boost shipments.
While some commodities are indeed flourishing, not all products are that lucky. Industry experts opine that the global shortage of components, including semiconductor chips used in smartphones, may drive up the costs of the devices or lead to fewer launches ahead of the festival season. Perhaps, India needs to focus on creating a semiconductor ecosystem of its own, to avoid being drastically crippled by such occurrences. If the situation goes further haywire, these rising prices, coupled with the shortage of essential materials, may dampen festivities and spoil the covid-19 recovery party.
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