Neutral
India's sugar industry denies shortage; retail prices expected to drop soon
The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) has stated that there is no sugar shortage in the country and anticipates a reduction in retail prices within the next 7–10 days. This follows government measures, including the approval of duty-free imports and early crushing, aimed at boosting supplies.
Key points
- Government permits duty-free import of 1 million tonnes of raw sugar to stabilize prices.
- ISMA confirms no sugar shortage; retail prices expected to ease in the coming days.
- Sugar futures decline as India's sugar industry attributes recent price surge to speculation.
Sources
AI-generated from public news sources. Not financial advice.
