date:Feb 15, 2019
than consumption.
A rise in the state-controlled price may prompt millers to sell more locally and reduce exports, supporting the global market. Sugar stockpiles in India, where production is set to exceed local demand for a second year, almost doubled to 15.4 million metric tons as of Dec. 31 from a year earlier following bumper output, according to Indian Sugar Mills Association data.
The move is also expected to help millers, who are under pressure to clear dues to cane growers. Mills owed