Recently, the issue of banning wheat exports by the Indian government has caused a stir, so that the price of the product has skyrocketed, now after wheat, the Indian government has acted to limit sugar exports.
The matter was gazetted in the Indian government order stating that sugar exports will be limited to 10 million tonnes only for this season.
The first thing that happened in 6 years also saw exporters having to obtain permission before making any shipments abroad from June 1 to October 31.
It is believed that the action was taken to control local sugar prices and ensure stable supply in the domestic market.
However, on the other side of the embankment, the benchmark white sugar price in London has jumped 1% after the announcement in India.
According to sources, the Indian government initially wanted to limit exports to only 8 million tonnes but after reviewing production estimates, a decision of 10 million tonnes was agreed.
In addition, the 10 million tonne decision was welcomed as it would help India sell relatively large quantities of sugar in the world market.
India which is the 2nd largest producer and exporter of sugar after Brazil has faced various food crises this year.
Although the impact of India's action on Malaysia is still uncertain, it will certainly add to the concerns of the people who often use sugar in local dishes.
It should not be forgotten that Malaysia itself is facing a food crisis with the price of chicken soaring so that the government has to stop exporting the product for a while.
