Sugar Market Swings: Government Intervention Brings Prices Down, But What's Behind the Bounce?
The recent government decision to allow duty free import of 10 lakh tonnes of raw sugar and permit Indian sugar refiners to sell processed sugar meant for export in the domestic market has sent shockwaves through the industry.
The move is expected to bring down refined sugar prices by around 3 3. 5 lakh tonnes entering the market immediately, with prices already dropping by a staggering 20% in just ten days.