The Indian government decided to grant subsidies to the domestic sugar cane producer. This decision will increase India's sugar exports; hence, more sugar is expected to reach the world market. In coming years, India would be the net exporter of sugar, foresees Commerzbank.
Yesterday,the raw sugar price recorded a sharply fall for the second consecutive day. It has fallen by nearly 5% within the space of two days of trading. The commodity is currently costs 14.5 US cents per pound, a week before the price was above 15 US cents.
