The government’s overly cautious approach to controlling the production and sale of sugar in an effort to curb food inflation is coming at the expense of sugar millers.
Most Indian sugar mills have reported a contraction in sales and profit margins in the second quarter of the current financial year, despite high global sugar prices. Domestically, average sugar prices have corrected as much as 6.5% to INR35.5 per kg at present from INR 38 per kg last season, due to a buildup of
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