India intends to limit the export of sugar as a precaution to protect its own reserves, Bloomberg reports with reference to a source familiar with the situation.
According to the agency’s source, the Indian government intends to set a sugar export limit at 10 million tons during the current market year, which ends in September. According to his data, the purpose of this measure is to ensure sufficient reserves before the next season in October. The source also said that the decision of the government of India may be announced in the coming days.
Earlier this month, India found the world by surprise when it limited the export of wheat, causing a jump in world prices for a strategic agricultural product.