- India could cap exports of the sweetener at 6 million to 7 million tonnes in the 2022/23 October-September season.
- This is one-third less than the total to be shipped out in the current season, sources said.
- The curbs could further lift benchmark white sugar prices, which are already near 5-1/2 year highs.
Industry and government sources said on Friday that India is likely to impose a cap on sugar exports for the second year in a row; in order to secure enough domestic supplies and keep local prices under control.
According to industry and government sources, India; the world’s largest sugar producer, may limit sugar exports to 6 million to 7 million tonnes; in the 2022/23 October-September season; almost one-third less than the current season’s total.
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A request for response from the government was not immediately returned.
India’s export restrictions, which make it the world’s second-largest sugar exporter; might push up benchmark white sugar prices, which are already around five-and-a-half-year highs; traders said.
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