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Exclusive: India set to ban sugar exports for first time in 7 years

Source Reuters

Posted on August 23, 2023

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MUMBAI/NEW DELHI, Aug 23 (Reuters) – India is expected to ban mills from exporting sugar in the next season beginning October, halting shipments for the first time in seven years, as a lack of rain has cut cane yields, three government sources said.

India’s absence from the world market would be likely to increase benchmark prices in New York and London that are already trading around multi-year highs, triggering fears of further inflation on global food markets.

For More Details Visit: https://www.reuters.com/markets/commodities/india-set-ban-sugar-exports-first-time-7-years-2023-08-23/