Stringent government controls on domestic sugar sales and a ban on exports are causing sugar mills to pile up unsold inventories.
Both the federal government in New Delhi and multiple state governments, Uttar Pradesh, in particular, have been proactive in raising up the regulated prices of sugarcane. However, the country’s regulators have ruled out sugar exports in the current crushing season. To make matters worse, they are going slow on relaxing feedstock restrictions. That will adversely
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