India considers cutting sugar import duty to control record prices

India is considering a reduction in sugar import duties to control soaring domestic prices ahead of the festive season. Poor monsoon rains and El Niño concerns have impacted sugarcane harvests, tightening supply.

Sugar prices in Maharashtra have reached record levels, prompting factories to advance their crushing schedules to increase output. The duty cut aims to boost local availability and ease price pressures during peak festival demand.