Sugar is the next food you might have a hard time getting your hands on as India announces it’s limiting sugar exports

Sugar is the next food you might have a hard time getting your hands on as India announces it’s limiting sugar exports

India, a major sugar producer, will soon be restricting sugar exports. It's the latest protectionist move by an expanding to secure domestic food supplies. The Indian government said in a that it is capping sugar exports at 10 million metric tons for this current marketing year — which runs through September — to ensure domestic availability of the commodity and ensure "price stability." The restriction will start on June 1. India is the world's second-largest producer and exporter of sugar after Brazil. Major importers of Indian sugar include Indonesia and Sri Lanka. The South Asian country exported 7.2 million tons of sugar in the last marketing year, according to the — well short of its new export cap. India doesn't face a shortfall, according to the US Department of Agriculture. However, like in many countries, food inflation in India has risen sharply in the last year, putting pressure on the government to soften the impact on the electorate. "Uncontrolled exports could create scarcity and local prices could spike during festive season," a senior government official told on Wednesday. India is the world's largest sugar consumer and celebrates its biggest festival, Diwali, in October this year. International sugar prices have already