The Indian government has halved the stock limit for sugar dealers to prevent hoarding and stabilize retail prices, which rose by 30% in August.
Sugar stocks on the Indian exchanges reacted sharply to the news, with major companies like Dwarikesh and Uttam Sugar seeing their share prices drop by up to 7%.
The Ministry of Food has also invited applications for the export of 2,02,550 tonnes of raw sugar to manage domestic supply levels and maintain price equilibrium.