Sugar demand falters in peak season due to virus curbs
The Hindu
‘Prices fell 0.8% in 2019-20 because of lockdowns’
India’s sugar consumption during the peak demand season is set to fall for a second straight year after various States imposed restrictions, including restaurant and shop closures to halt rising cases of COVID-19, industry officials told Reuters. Lower demand could increase inventories in India, the world’s biggest consumer of the sweetener, and may put downward pressure on local prices. Lower domestic sales could force mills to export more sugar in the next marketing year, putting pressure on global prices as well.
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