India to Halt Sugar Exports Amidst Rainfall Woes, Global Market Impact Feared

Amidst a rainfall shortage affecting cane yields, India is set to prohibit sugar mill exports in the upcoming season from October.

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This season, only 6.1 million tonnes of sugar were exportable, contrasting with the record 11.1 million tonnes permitted last season. Notably, India had imposed a 20% sugar export tax in 2016.

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To alleviate soaring local sugar prices, the government temporarily permitted the sale of an additional 200,000 tonnes in August. Acknowledging concerns over food inflation.

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Moreover, recent unpredicted bans on rice and onion exports, coupled with impending state elections. Underscore India’s focus on stabilizing food prices.

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Transitioning to a self-sufficiency approach, India’s move to halt sugar exports showcases its dedication to ensuring domestic supply and stable pricing.

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