No plans to impose curbs on sugar exports: Food Secretary Sanjeev Chopra
India’s sugar demand outlook weakens as consumption drops to 277 LMT due to LPG shortages and geopolitical tensions. Lower restaurant activity is curbing sugar and edible oil usage, impacting imports. Despite this, the government maintains no export curbs, while the industry faces rising cane arrears and financial stress.
India, the world’s second biggest sugar producer, has no plans to impose curbs on sugar exports, food secretary Sanjeev Chopra said on Tuesday.
Consumption of sugar and edible oils in India, the world’s largest market, is declining as a shortage of commercial gas cylinders has forced restaurants to scale back operations during the summer holiday season.
Lower consumption could curb India’s imports of edible oils, including palm oil from Indonesia and Malaysia, and soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
Roadside eateries and restaurants are facing gas cylinder shortages, which is reducing their edible oil consumption, said B.V. Mehta, executive director of the Solvent Extractors’ Association of India (SEA), noting that India’s edible oil imports fell nearly 9% in March from the previous month to 1.2 million tons.
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Source : Business Standard
