“India is the world's biggest sugar producer and the second biggest exporter behind Brazil. Heatwaves have withered fields in India, prompting a government order dated May 13 to restrict shipments and safeguard domestic supply.
India’s plan to restrict its sugar exports should not have a significant impact on Wilmar International as it mostly sells its sugar domestically, according to analysts at RHB Group Research.
For the first time in six years, India plans to restrict sugar exports to prevent a surge in domestic prices. This could potentially cap this season’s exports at 10 million tonnes, the analysts point out.
