India's rice export ban sparks concern that sugar may be next
Uneven rainfall across India’s agricultural belts has stoked concern that sugar production will fall short.
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Uneven rainfall across India’s agricultural belts has stoked concern that sugar production will fall short.
After India banned some rice exports to control domestic prices, traders are worried another food staple could be vulnerable: sugar.
This may limit the country’s ability to export. The government has already restricted overseas sale of wheat and some rice varieties to protect domestic supplies and cool prices, adding to stresses on global food markets that have already been roiled by bad weather and the worsening conflict in Ukraine.
The world has become increasingly dependent on sugar exports from the South Asian nation as global supplies tighten. Uneven rainfall across India's agricultural belts has stoked concern that sugar production will fall short, potentially dropping for a second straight year in the season starting October.
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