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The Hindu Business Line

India sets record September sugar sales quota at 26.5 lt to curb retail prices

AI Market Summary
India raised September domestic sugar sales quotas to a record level and reinforced compliance rules, signaling an aggressive push to cool retail prices ahead of seasonal demand. Alongside previously permitted duty-free raw sugar imports, the policy increases near-term supply and coincides with global weakness as ICE raw sugar dipped below 18c/lb. The combined domestic and international supply overhang is a near-term negative for sugar pricing and related positioning.
Impact level
● Medium
Affected assets
NCCOSUGAR2USD/USDT-1.24%
AI Insight · NCCOSUGAR2USD/USDTAI Insight
▼ Bearish
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India has set a 13.5 lt sugar sales quota for September 16–30, lifting the total allocation for September to a record 26.5 lt to steady domestic prices. Maharashtra, Uttar Pradesh and Karnataka received 4.25 lt, 4.13 lt and 2.02 lt, respectively. The government has also allowed duty-free imports of 1 million tonnes of raw sugar, and retail prices have fallen below ₹60/kg. In global trade, ICE raw sugar futures slipped below 18 cents a pound, while London white sugar futures were quoted at $529.1 a tonne.
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