India to restrict sugar exports to prevent a surge in domestic prices

24/5/2022 1:49:00 PM

India to restrict sugar exports to prevent a surge in domestic prices

India

India to restrict sugar exports to prevent a surge in domestic prices

NEW DELHI: India plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices, potentially capping this season\u0027s exports at 10 million tonnes, a government source told Reuters on Tuesday (May 24). India is the world\u0027s biggest sugar producer and the second biggest ex

India is the world's biggest sugar producer and the second biggest exporter behind Brazil.Reuters in March reported that India was planning to curb sugar exports to keep a lid on local prices and ensure steady supplies in the domestic market.Lower sugar output in Brazil and high oil prices which encourage mills there to produce more sugarcane-based ethanol have spurred global price gains.

Initially, India planned to cap sugar exports at 8 million tonnes, but the government later decided to allow mills to sell some more sugar on the world market as production estimates were revised upwards.The Indian Sugar Mills Association, a producers' body, revised its output forecast to 35.5 million tonnes, up from its previous estimate of 31 million tonnes.

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Die Lor..Indonesia ban palmoil export earlier, than Malaysia ban export of chicken, now India restrict sugar exports..anymore?

India plans to limit sugar exports in new risk to global food prices

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NEW DELHI: India plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices, potentially capping this season's exports at 10 million tonnes, a government source told Reuters on Tuesday (May 24).Copy to clipboard https://str.GRAB (PHOTO: Yahoo Finance Singapore/Wan Ting Koh) SINGAPORE — Grab Financial Group (GFG), the financial arm of Grab Holdings, announced the launch of a new brand GrabFin, and the introduction of a new investment product Earn+.LinkedIn BENGALURU :Shares of Delhivery, an Indian logistics startup backed by SoftBank Group, rose as much as 7.

India is the world's biggest sugar producer and the second biggest exporter behind Brazil. Reuters in March reported that India was planning to curb sugar exports to keep a lid on local prices and ensure steady supplies in the domestic market. The aim is to ensure there are adequate stockpiles before the next sugar season starts in October, according to a person familiar with the matter. Lower sugar output in Brazil and high oil prices which encourage mills there to produce more sugarcane-based ethanol have spurred global price gains. GrabFin offers Grab users a single entry point to payment, investment and insurance services on the Grab app. Initially, India planned to cap sugar exports at 8 million tonnes, but the government later decided to allow mills to sell some more sugar on the world market as production estimates were revised upwards. The export limit would be another protectionist move after India banned wheat sales just over a week ago. The Indian Sugar Mills Association, a producers' body, revised its output forecast to 35. Delhivery's IPO, by nearly 30 per cent to 52.

5 million tonnes, up from its previous estimate of 31 million tonnes. A spokesman for both the food and commerce ministries did not immediately respond to a request for comment. This product is targeted at new investors who want to build an investing habit via a simple to use interface. Indian mills have so far signed contracts to export 8.5 million tonnes of sugar in the current 2021/22 marketing year without government subsidies. Steps by governments to ban sales abroad, particularly in Asia, have ramped up in recent weeks since Russia's invasion of Ukraine sparked a further surge in already-soaring global food prices. Out of the contracted 8."In today’s volatile environment, it can be a good complement to our users’ investment portfolio as a low-risk investment option.5 million tonnes, mills have already dispatched around 7.S.

1 million tonnes of the sweetener. Shares in leading sugar mills such as Balrampur Chini , Dalmia Bharat Sugar, Dhampur Sugar Mills , Dwarikesh Sugar Industries and Shree Renuka Sugars fell as much as 8 per cent on Tuesday. Earn+ will invest in well-diversified, short-term bond funds offered and managed by Fullerton Fund Management and UOB Asset Management. Traders, however, said the decision to allow mills to export 10 million tonnes would help the country sell a reasonably big quantity of sugar on the world market. "The limit of 10 million tonnes is fairly big, and both mills and the government will be happy with this," said a Mumbai-based dealer with a global trading firm. He didn't wish to be named in line with his company's policy.59 per cent annual fee to maintain the actively managed funds under their Earn+ portfolios.

After exporting 10 million tonnes, India's sugar stocks on Oct 1, when the next 2022-23 season begins, would total 6 million tonnes, sufficient to cater to the country's festival season demand during the December quarter, the dealer said. Source: Reuters/nh .