India to Limit Sugar Exports in Risk to Global Food Prices
- India to restrict sales to maintain supply, stabilize prices
- Mills contract to export 9 million tons so far in 2021-22
A sugarcane harvest in Jalana district of Maharashtra, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
India will restrict sugar exports as a precautionary measure to safeguard its own food supplies, another act of protectionism after banning wheat sales just over a week ago.
The government will cap sugar exports at 10 million tons for the marketing year that runs through September, according to a statement from the food ministry late on Tuesday, confirming an earlier Bloomberg News story. The aim is to maintain domestic availability of sugar and safeguard interests of consumers by keeping prices under control, it said.