India extended restrictions on sugar exports

Published Aug 10, 2024

Tridge summary

India plans to maintain restrictions on sugar exports to ensure adequate domestic stocks and increase ethanol production. The government's goal is to keep sugar prices reasonable and boost sugar cane usage for ethanol. This move will limit local producers but will contribute to stabilizing falling global sugar prices, down 12% this year. Last season, India exported 6 million tons of sugar, a decrease from 11 million tons the year before, due to low production. The government will keep these restrictions in place until October, following the national elections. Despite concerns about the accuracy of stock data, it is estimated that India's sugar stocks as of September 30 will exceed 9 million tons, which is sufficient for both domestic consumption and potential exports.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

India will maintain restrictions on sugar exports to ensure sufficient stocks for the domestic market and increase ethanol production. The government aims to keep sugar prices at an acceptable level and increase the use of sugar cane for ethanol production, Bloomberg reports. As a result, exports will not be allowed for now, which will negatively affect local producers, but will support world sugar prices, which are down 12% this year. Last season, which ended in September 2023, India limited sugar exports to 6 million tons due to low production, compared to exports of 11 million tons a year earlier. The government extended the restrictions until October before the national elections. According to the data provided by the Sugar and Bioenergy Producers ...
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