The company expects this deal to strengthen its market presence.

"We are actively pursuing similar opportunities in northern India, aiming to expand our operations and capitalize on growing demand in the region. This initiative underscores our commitment to meeting the rising demand for sugar,” Sakuma Exports said in a statement.

Sakuma Exports trades in commodities such as sugar, edible oil, cotton, rice, and other agricultural commodities.

The company's consolidated net profit declined 9.03% to Rs 6.45 crore on a 4.01% fall in sales to Rs 777.07 crore in Q3 FY24 over Q3 FY23.