India is unlikely to allow new batch of sugar exports

India does not intend to allow more sugar exports, government and industry officials said on Thursday, dampening speculation that the world's biggest producer of the sweetener would allow a second tranche of shipments abroad. India, the world's largest sugar exporter after Brazil, recorded record shipments of 11 million tonnes in the previous season through September 30, 2022. The government allowed sugar mills to export just 6.1 million tonnes of the sweetener in the current season, which started on October 1, 2022. Food price inflation was high at the start of the season, leading to restrictions on exports. But officials said they could assess a second tranche of sugar exports once they have a clearer idea of local production. Mills have already signed contracts to export around 5.6 million tonnes, and producers, traders and industry officials were hoping the government would allow an extra 2 to 4 million tonnes of shipments abroad. But expectations of falling sugar production ...