Last February, the government decided to give mills a subsidy of INR4,000 ($64) a tonne for exports of up to 1.4 mln tonnes in an effort to reduce stockpiles after five straight years of surplus output. Despite that a sharp drop in the Brazilian Real has thwarted India’s efforts to step up raw sugar exports. Brazil’s raw sugar is currently available at $310-$312 a tonne, while Indian raw is priced at $345 a tonne.… Login to continue

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