India may permit local mills to export sugar in the next season that starts in October as early signs suggest a bumper cane harvest, according to a person familiar with the matter.
The crop looks promising across key producing regions, helped by higher acreage and ample rains, the person said, asking not to be named as the information isn't public. As local consumption is set to rise only marginally, continued higher-than-average precipitation in the current monsoon period could lead to a sugar surplus, the person said.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
A food ministry spokesperson didn't immediately respond to a request for comment.
A move by the second-largest sugar producer to allow overseas shipments could further weigh on world prices, with New York futures already hovering near a four-year low. India introduced an export quota system in 2022-23 after dry weather and crop diseases dented output.
With cane acreage expanding in major growing states such as Maharashtra and Karnataka, the National Federation of Cooperative Sugar Factories Ltd. predicts a production jump of 19% in 2025-26.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.