Outlook for India’s Sugar Industry Uncertain

In January, sugar prices were headed up, with government action to cool prices and higher production being the key risks, reports The Wall Street Journal in India. Wilting under political pressure, the Indian government took tough measures.

Reports of Indian importers backing out of contracts saw global prices crashing in the past few days. Sugar firm share prices are down, with Bajaj Hindusthan Ltd and Shree Renuka Sugars Ltd down from their 52-week high levels of January by 38% and 34%, respectively.

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