Sugar prices in India, the largest sugar producer after Brazil, have risen drama
tically this season, starting October, due to then projected 32 % decline in the output to 18 million tones, which now is projected to be around 16 mmt. Feb saw sharp jump in prices as Food minister ruled our stock limit imposition. However eyeing election govt came up with series of announcement to control spiraling sugar prices starting with allowing duty free imports and followed by imposing stock limits. Price have fallen by almost 10% since the highs made in Feb and are likely to remain stable in coming days as no fresh bulk buying or demand season is coming up and govt will keep the pressure on traders and hoarders to control price rise. However outlook for April month onwards definitely looks promising which I'll write in my next blog... keep reading
tically this season, starting October, due to then projected 32 % decline in the output to 18 million tones, which now is projected to be around 16 mmt. Feb saw sharp jump in prices as Food minister ruled our stock limit imposition. However eyeing election govt came up with series of announcement to control spiraling sugar prices starting with allowing duty free imports and followed by imposing stock limits. Price have fallen by almost 10% since the highs made in Feb and are likely to remain stable in coming days as no fresh bulk buying or demand season is coming up and govt will keep the pressure on traders and hoarders to control price rise. However outlook for April month onwards definitely looks promising which I'll write in my next blog... keep reading
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