Home / Business and Economy / India's Sugar Refineries Shift 250,000 Tons to Local Market
India's Sugar Refineries Shift 250,000 Tons to Local Market
9 Sep
Summary
- Port-based sugar refineries to redirect 250,000 tons of refined sugar domestically.
- India previously permitted 1 million tons of duty-free raw sugar imports.
- Domestic sugar prices are falling due to policy changes and upcoming harvests.
India's port-based sugar refineries are preparing to channel about 250,000 metric tons of refined sugar into the domestic market. This significant redirection follows a recent adjustment in the country's sugar trade policy.
Previously, India, the world's largest sugar consumer, had authorized duty-free imports of 1 million metric tons of raw sugar to curb soaring domestic prices. These port-based refineries, which import raw sugar, refine it, and then export white sugar, have now been permitted to sell domestically. They have applied for quotas allowing them to sell around 250,000 tons of refined sugar locally.
This policy change has coincided with a noticeable decline in domestic sugar prices. Industry executives anticipate prices will continue to fall, especially with new-season supplies nearing arrival. To further bolster availability, New Delhi has also directed sugar mills to commence crushing operations earlier than usual, by October 15, to ensure ample supply during the crucial festival period.
