In an effort to keep sugar prices in domestic markets in check, the Modi govt may suspend or put a cap on export of the sweetener.
India could export a record 7.5 million tonnes of sugar in the current marketing year, nearly 25% more than the previous estimate as per reports. A rise in the amount of sugar diverted to ethanol production has led to a deficit globally
Sugar prices have increased by Rs 50/quintal in March over the previous month. However, they are still lower when compared to November and December levels.