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India, the world’s biggest consumer of sugar, is set to replace Brazil as its biggest producer too.
However, this will be a dubious distinction for the industry and it highlights the perils of a highly regulated sector (the industry has no control on raw material price and the government often acts to check sugar price).
The emergence of India as the biggest producer comes at a time when a large global surplus has prompted Brazil to divert sugarcane to ethanol production.
India, on the other hand, is struggling to manage its current stocks while staring at another record output.
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