Limited supply of sugar from India: The price will rise in the world market

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MUMBAI: The recent rise in global prices of sugar, which is used in most food items apart from chocolate to cold drinks, threatens to push up global food inflation.

In the current week, the prices of refined sugar rose to a decade high globally. Raw sugar prices have also touched near six-year highs.

Global sugar supply has been disrupted due to low production of sugar in India this year as well as export restrictions. India is a major exporter of sugar in the world market.

Export of 60 lakh tonnes of sugar from the country has been allowed in the current season as against 1.10 crore tonnes in the previous season. The current sugar season will end on September.

In the next season, the export is expected to be reduced to 40 lakh tons.

There were reports of inflation resurging in the UK recently due to high sugar prices. Brazil, a major sugar exporter, is expected to produce a bumper crop of sugarcane, but rains have slowed harvesting, the report said.

A local exporter said that India's availability of sugar in the world market has become increasingly important in view of the increase in sugar consumption and reduction in supply.

In the local market, the price of S-30 sugar was above Rs 3,422 per quintal while that of M-30 was Rs 3,612.

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