24
Aug
India may ban sugar exports for the next season, which starts in October, due to reduced sugarcane yields due to insufficient rains, Reuters news agency reported, citing three government sources. The expected move follows a lack of rains affecting the top sugarcane-producing regions, with monsoon rainfall in Maharashtra and Karnataka 50 percent below average. The ban on Indian sugar exports, which has not happened in seven years, could push up global benchmark prices, raising potential inflation in global food markets. The prospect of such a decision comes as India faces concerns over food inflation, with retail inflation hitting a 15-month…
