The expected lower sugar output, sticky food inflation and rising crude oil prices, amidst Indian rupee in a free fall, rules out exports in the near term.
Quite in contrast to the November estimates of India’s sugar output at 29.3 million tonnes by the Indian Sugar and Bio-energy Manufacturers Association (ISMA), the actual output after accounting for ethanol diversion could be lower at 27.6 million tonnes in the current crushing season. That is 13.7% lower than the actual production in the previous
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