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India’s Move to Slash Sugar Export Quota to Tighten World Supply

Sacks of refined sugar at a store in New Delhi, India.

Sacks of refined sugar at a store in New Delhi, India.

Photographer: T. Narayan/Bloomberg

India sharply reduced its sugar export quota for 2022-23, potentially worsening the global market outlook already strained by supply hiccups in top shipper Brazil.

The South Asian nation asked the millers to sell 6 million tons in the overseas market by May 31, according to a food ministry notification, indicating it may still permit more shipments through October 2023. The quota for 2021-22 totaled 11.2 million tons.