India weighs sugar import duty cut to curb record local prices

In an effort to reign in soaring domestic sugar prices, India is thinking about lowering its sugar import duty. This response is geared toward boosting local supply ahead of the upcoming festival demand spike. Concerns regarding El Niño and subpar monsoon rains have cast shadows over sugarcane harvests. Ex-mill sugar prices in Maharashtra have hit record highs, pushing factories to begin sugarcane crushing ahead of schedule to ramp up availability.