India has banned sugar exports until September 2026 to protect domestic supplies and stabilize prices, citing concerns about production falling short of consumption due to weak cane yields and El Nino monsoon fears; this decision caused global sugar prices to surge, with raw sugar futures rising over 2% and white sugar prices increasing 3%.
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Breaking: India Stops Sugar Exports Till 2026 | Sugar Export Ban Hits Global Trade | WIONAdded:
We have some breaking news coming in.
India has banned sugar exports with immediate effect till September 2026 in a move which is aimed at cooling domestic prices and protecting local supplies.
Now the government says a sugar production may fall short of consumption [music] for a second straight year due to weak cane yields and fears of [music] an El Nino hit monsoon. India had earlier allowed exports of 1.59 million tons but only shipments [music] already in the pipeline will now be cleared.
Global sugar prices surged after the announcement with the raw sugar futures jumping over 2% [music] and white sugar prices rising 3%.
>> [music]
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