India waives customs on raw sugar imports
India has permitted, for the first time in nearly a decade, the import of raw sugar duty-free until October 31, in an effort to curb soaring domestic prices that have reached record levels, especially in the state of Maharashtra. This measure comes alongside expectations of increased demand for sugar during the Indian festival season, which has led to a 4.1% rise in futures prices and threatened market speculation. The Indian government aims to provide stable supplies and affordable prices for consumers, particularly in light of the drought and the impact on the sugarcane harvest this season.
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