A poor sugarcane crop in India, the world’s second-largest producer, is hurting consumers and farmers — plus undermining the country’s energy security goals

The UN Food and Agriculture Organization’s Food Price Index rose to a four-year high as El Niño weather concerns and disruptions to Black Sea trade tightened crop markets. The agency’s sugar price index climbed 6.1% in September from August for a third straight monthly gain, reaching an 18-month high, while wheat futures hit a three-year peak early last month. Vegetable oil prices also increased, with palm oil supported by demand and Southeast Asia production risks tied to El Niño. FAO left its 2026 global cereal production forecast unchanged at 2.979 billion metric tons.

Indian equities opened sharply higher, with the Sensex up 440 points to 77,435.76 and the Nifty gaining 138 points to 24,147.60. The move followed a 1.7% drop in Brent crude to USD 72.49 per barrel as geopolitical risk premiums eased and supply conditions stabilized. Asian markets were mostly higher, led by South Korea’s Kospi up over 5% and Japan’s Nikkei 225 nearly 4% higher. Foreign investors were net sellers on Wednesday, offloading Rs 1,843.40 crore, according to exchange data.

周一早盘，印度Sensex上涨407点至77210点，Nifty上涨115点至24130点。主因布伦特原油价格下跌1.5%至79.36美元/桶，叠加外资单日净买入4859亿卢比及全球股市普涨。美伊达成60天谈判路线图，但未引发市场波动。上周五印度股指曾大幅下挫。