Despite the opportunity to finally reform cane price policy thanks to high sugar prices, states are looking to hold on to voters during the upcoming election instead of getting the industry on a stable footing.
Instead of taking advantage of the current surge in global sugar prices to push through the much-needed cane pricing reform, which is the only long-term solution to the country’s sugar glut, India is back to cane price populism. That will further erode the cost competitiveness of the country’s milling sector and worsen things like clearing
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