India curbs sugar exports to ensure supply, stabilize price

KIFI

Published May 25, 2022 12:21 AM

ASHOK SHARMA
Associated Press

NEW DELHI (AP) — India is restricting its sugar exports to 10 million tons in the current season to help maintain domestic availability and keep prices stable. The decision follows a similar measure for wheat and comes amid signs of tightening world supplies. India is the second-largest producer and biggest consumer of sugar. It’s the second-largest exporter of sugar in the world. The export curbs are the first in six years. India exported a record 7 million tons in 2021-22, up from 620,000 tons in 2017-18. The country’s sugar consumption tends to shoot up during its major festival season from September to November.

Article Topic Follows: AP National Business

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