India expected to swing from sugar exporter to buyer due to El Niño
BARELY A YEAR after ordering sugar mills to compulsorily export from a mountain of stockpiles, India is struggling to cope with spiraling prices and a potential shortage.
After the strongest El Niño in two decades shriveled crops, India’s production is set to decline for a second year to the smallest in seven years. That’s alarmed the federal government, with Food Minister Ram Vilas Paswan last week saying the import duty may be lowered and exports scrapped to prevent any further jump in prices.
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