NEW DELHI: India is expected to withdraw sugar export subsidies from the new season beginning October as a sharp rise in global prices makes it easier for Indian mills to sell the sweetener on the world market, a top government official said on Tuesday.
“The government is not considering any subsidy at the moment for next year,” Sudhanshu Pandey, the most senior civil servant at the Ministry of Consumer Affairs, Food and Public Distribution, told Reuters in an interview. “Under current circumstances, as we see the scenario, there appears to be no need to have the support of the subsidy. If exports can happen on their own, then it’s also better for the global market that no subsidy is provided,” he said.
India, the world’s biggest sugar producer after Brazil, incentivised overseas sales for three years in a row, helping New Delhi emerge as a significant, stable exporter of the commodity.
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