Expectations of significant production decline and a spike in domestic sugar prices mean that Indian sugar mills will export less than the permitted quota for the current season.
In our previous report, we discussed why New Delhi’s decision to allow the export of 1 million tonnes of sugar was difficult to understand. India is expected to produce 27.3 million tonnes, according to the Indian Sugar and Bioenergy Manufacturers Association. This is the lowest output since 2019/20. Meanwhile, food inflation is still not in
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