India’s crop is likely to shrink this season, but it’s not going to be enough to get the market back in balance.
Ideally, lower sugar output should be a sentiment-booster amid a national and global supply glut that has depressed prices. However, India’s sugar story is far more complicated than it appears at first glance. Erratic rains and floods in Maharashtra and Karnataka are likely to lower India’s sugar output by 19% to 26.85 million tonnes in
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