Posted 8/23/2023, 11:26:00 AM

Exclusive: India set to ban sugar exports for first time in 7 years

India is expected to halt sugar exports for the first time in seven years due to low rainfall and reduced cane yields, which could increase global prices and fuel inflation on global food markets.

reuters.com

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9/11/2023

Food Commodity Prices Fall in August, Except For Rice

The global food commodity prices decreased by 2.1 percent in August, driven by falling prices of essential food items, except for rice and sugar, according to the latest report from the Food and Agriculture Organization of the UN (FAO). The decrease was seen in the price indices for dairy products, vegetable oils, meat, and cereals, while the sugar price index saw moderate growth. The decline was attributed to factors such as reduced global prices for vegetable oils, surplus of dairy products, increased export availability of meat, and higher seasonal availabilities of wheat and maize. However, the sugar price index increased due to concerns about the impact of the El Niño phenomenon on sugarcane crops. Additionally, the rice price index surged to its highest level in 15 years due to disruptions in the rice trade resulting from India's ban on exporting Indica white rice.