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India to start new sugar season with 6.2 million T of stocks

Reuters
·1-min read
FILE PHOTO: A labourer carries a sack filled with sugar to load it onto a supply truck at a wholesale market in Kolkata, India

NEW DELHI (Reuters) - India could start sugar's new marketing year on Oct. 1 with carry forward stocks of 6.2 million tonnes even after exporting a record 10 million tonnes, the top official at the food ministry said on Wednesday.

On Tuesday India imposed restrictions on sugar exports for the first time in six years by capping this season's exports at 10 million tonnes.

New Delhi had decided to restrict exports as a precautionary measure in an attempt to ensure enough supplies remain in the country to meet demand during festival season, Food Secretary Sudhanshu Pandey told reporters.

(Reporting by Mayank Bhardwaj and Rajendra Jadhav; Editing by David Goodman)