The Indian government established a domestic quota for August xxxx at x.xx million metric tonnes (LMT), lower than the previous year&#xx;s allocation for the same period. This action, driven by balancing supply with increasing consumption, has put additional pressure on the market. With the festival season looming—headed by Dussehra and Diwali, historically responsible for greater household and industrial demand for sugar—consumers and traders alike are preparing for further price hikes.
The government estimated finishing stock levels at approximately x.x million tonnes by the end of August, which is a comfortable number at the moment. However, end-of-season estimates for the end of the xxxx/xx season indicated a considerably lower stock of only x.x million tonnes, which has raised supply adequacy concerns. Industry players say this tightening would place farmers and downstream industries in a difficult spot, with millers being forced to juggle commitments to domestic...
