The Indian government is poised to grant permission for mills to sell 1 million tonnes of sugar on the international market. This decision could exert additional downward pressure on worldwide sugar prices, which have already been experiencing fluctuations.
As a major sugar producer, India’s export policies significantly influence the global sugar trade. The allowance of these exports is expected to provide relief to Indian sugar mills, which have been grappling with surplus production and storage concerns. However, the move may also intensify competition among sugar-exporting nations, potentially leading to further price adjustments in the global market.