The Indian government is considering a ban on sugar exports for the upcoming season, which will start in October. It has been reported Reuters three resources in departments. It will be the first time such a step has been taken in seven years.
The reason the ban was discussed was the severe drought in Maharashtra and Karnataka, the major sugarcane producing states. Due to the drought, the cane harvest in these regions was 50 percent less than normal.
Experts predict that sugar production in India may decrease by 3.3 percent in 2023/24 season and reach 31.7 million tons due to adverse weather conditions.
“Our priority is to meet domestic demand in sugar and ethanol production. We won’t have much sugar for export supplies next season,” a government source said.
India in July introduced He imposed restrictions on food exports by banning the supply of rice and imposing a tax on onions. This is due to fears of rising food inflation in the country amid crop shortages.
Last ship previously covered by grain agreement left Black Sea.