India is unlikely to ease restrictions on exports of sugar until at least October and any review on the ban will only be conducted after reviewing the progress of planting for the next season, a government official said, on condition of anonymity. The world’s second-largest sugar producer, India extended a ban, first placed in June 2022, on exports of sugar beyond October 2023, correctly anticipating a lower harvest due to erratic monsoon rainfall. The move was prompted by the need to keep a check on domestic prices. But despite restrictions on outbound shipments, the average retail price of a kilogram of sugar at Rs 44.41 as on June 30, 2024, was actually slightly higher than the Rs 42.74 seen on the same day last year. “The rain forecast is good so far, but figures on plantation will decide which way the review will go. On sugar there won’t be an immediate review. The ban has helped limit the price rise on items. Without export curbs, prices may have been much higher than what we see now,” the official added.
