Piles of refined white sugar cubes sit a refinery. (Photographer: Vincent Mundy/Bloomberg)
Sugar prices can fall further if the government fails to intervene after the output rose to a record when prices are already down due to global oversupply, according to Abinash Verma of Indian Sugar Mills Association.
If the government helps in sugar exports and announces a programme for the next season, prices should remain at these levels, Verma told BloombergQuint in an interview. If ethanol rates are not revised, further fall is possible, Verma said.