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Bloomberg
India is set to restrict sugar exports as a precautionary measure to safeguard its own food supplies, another act of protectionism after banning wheat sales just over a week ago. Sugar prices jumped.
The government is planning to cap sugar exports at 10 million tons for the marketing year that runs through September, according to a person familiar with the matter.
The aim is to ensure there are adequate stockpiles before the next sugar season starts in October, the person said, asking not to be identified as the information is private. The move may be announced in the coming days.