3h ago
Sugar prices climb as much as 17% over 6 days
Sugar prices in India have climbed as much as 17% in six days, driven by strong festive demand and tighter supply. An extra 300,000 tons of sugar released by the government has failed to ease the shortage. To cool prices, India has approved duty-free imports of 1 million tons of raw sugar, capped dealer inventories and barred bulk buyers from purchasing in the domestic market. Crushing has been delayed in Maharashtra and Karnataka because the cane is not yet mature, adding to concern that prices could rise again before Diwali.
3h ago