India mills to use half of sugar import quota
Indian sugar mills and refiners will likely import just half of a duty-free quota as domestic prices fall. Falling ex-mill prices have eroded import profitability ahead of the new crushing season.
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India's sugar mills and refiners will likely import only 500,000 metric tons of raw Sugar under a 1 million metric ton duty-free quota. Falling domestic prices have eroded the financial attractiveness of overseas purchases. The policy shift comes as the world's leading consumer attempts to cool domestic prices ahead of the festival season.
