Continued export curbs, no increase in minimum sale price and steadily rising raw material costs present major downside risks for the Indian sugar industry.
As expected, in a country wherein politics dominates economics, the Indian government has raised the fair and remunerative price (FRP) of sugarcane for the 2023/24 season to INR315 a quintal from INR305 a quintal in the current season. FRP is the minimum price that millers must pay to cane growers. Thus, higher FRP is expected
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