India Plans to Release Millions of Tons of Sugar Onto International Markets
India is planning to dump a mountain of sugar on the world, and traders say the controversial move could knock the wind out of a global sugar market that is already grappling with a glut.
Five years of bumper crops have led to a giant sugar stockpile in India. The country’s sugar refineries have been sitting on the sugar, waiting to slowly sell it in the Indian market, where they get a higher price thanks to import restrictions and government support. Details