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India Begins Importing Sugar After Nearly a Decade
India, the world's largest sugar consumer, is importing one million tonnes of sugar for the first time in nearly a decade due to a significant shortfall caused by reduced rainfall, disease, and misestimated production. Despite being the second-largest global sugar producer, India faces an anticipated production of 30.6 million tonnes for the season, below earlier estimates, with rising domestic demand during festival and wedding seasons contributing to soaring prices. Factors such as erratic monsoon weather, diversion of cane to ethanol, and global supply disruptions have compounded the shortage, raising questions about government forecasts and export policies.
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