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    India: Delhi cuts sugar exports after wheat freeze

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    (ANSA) – NEW DELHI, MAY 25 – After the ban on wheat exports, India has decided to limit the sale of sugar on international markets to a maximum of 10 million tons per year. In a statement, the Delhi government informs that the decision has become necessary following an exceptional increase in exports in recent times and adds that, in this way, it intends to control the growing internal inflation, which rose in April to 8, 38%, both divert a large part of the sugar cane towards the production of ethanol.

    From June to September, traders will need to obtain special authorization for each export. The cut in sugar exports is a further sign of the growing protectionism, not only in India, of agricultural products, which adds to the global inventory crisis caused by the Russian invasion of Ukraine.

    India is the world’s largest producer of sugar, and the second largest exporter after Brazil. For the current trading year, which runs from October 2021 to September 2022, Indian sugar producers have signed export contracts for around 9 million tons, two million tons more than in the previous 12 months.

    Since January of this year, sugar futures have gained 26% compared to the same time in 2021. (ANSA).

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    Source: Ansa

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