India bans sugar exports to ensure domestic supply

Golden Ten Data reported on May 14 that, according to foreign media reports, India, the world’s second-largest sugar producer, has banned sugar exports until the end of September in order to secure domestic supply. This move follows a reduction in production estimates by one of India’s major sugar industry associations. Last month, the Indian Sugar and Bio-energy Manufacturers Association stated that total sugar production in India during the current crushing season ending September 30 is expected to reach 32 million tons, down from the previous estimate of 32.4 million tons. The Indian government had previously stated that it would not restrict sugar exports, alleviating market concerns that more sugar would be diverted to biofuel production.