Amidst a rainfall shortage affecting cane yields, India is set to prohibit sugar mill exports in the upcoming season from October.
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.
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.
Moreover, recent unpredicted bans on rice and onion exports, coupled with impending state elections. Underscore India’s focus on stabilizing food prices.
Transitioning to a self-sufficiency approach, India’s move to halt sugar exports showcases its dedication to ensuring domestic supply and stable pricing.