New Delhi India s agriculture industry is in a wait-and-watch mode amid the worsening pandemic situation, as localized lockdowns have stagnated market demand, while any subsequent stricter restrictions in the coming days are expected to slow down trading activity and disrupt supply operations.
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Even though agriculture and allied activities are exempted from government restrictions so far, several markets across India remain closed as cases continue to skyrocket.
As a result, India s domestic demand for palm oil, grains, as well as sugar is absent from the markets, sources told S&P Global Platts. India is the world s largest buyer of palm oil, and a major consumer of grains and sugar.
Sugar demand falters in peak season due to virus curbs
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‘Prices fell 0.8% in 2019-20 because of lockdowns’
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Lower domestic sales could force mills to export more sugar in the next marketing year, putting pressure on global prices as well. File Photo.
‘Prices fell 0.8% in 2019-20 because of lockdowns’
India’s sugar consumption during the peak demand season is set to fall for a second straight year after various States imposed restrictions, including restaurant and shop closures to halt rising cases of COVID-19, industry officials told
Reuters.
Lower demand could increase inventories in India, the world’s biggest consumer of the sweetener, and may put downward pressure on local prices.
4/19/2021
By Rajendra Jadhav
MUMBAI, April 19 (Reuters) - India s sugar consumption
during the peak demand season is set to fall for a second
straight year after various states imposed restrictions
including restaurant and shop closures to halt rising cases of
COVID-19, industry officials told Reuters.
Lower demand could increase inventories in India, the
world s biggest consumer of the sweetener, and may put downward
pressure on local prices. Lower domestic sales could force mills
to export more sugar in the next marketing year, putting
pressure on global prices as well. . The second wave of coronavirus has been disrupting the
market during the peak demand season. Purchases by bulk buyers
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