India is considering raising domestic prices of ethanol and sugar, the food minister said on Thursday, as the country seeks to boost local supplies. Reuters reported this month that India, the world's biggest sugar producer after Brazil,

NY world sugar #11 (SBV24) today is down -0.02 (-0.09%), and December London ICE white sugar #5 (SWZ24) is down -1.50 (-0.25%). Sugar prices today gave up an early advance and turned lower after the Indian Sugar and Bio-energy Manufacturers Association (ISM) said that the country will have 2 MMT of sugar to export next season and urged the government to lift its current sugar export restrictions.

The government is contemplating an increase in ethanol prices, raising the minimum selling price (MSP) of sugar, and reviewing sugar exports for the 2024-25 season. Food Minister Pralhad Joshi announced that discussions with the petroleum ministry are ongoing,

Ethanol prices, set by the government, have not been raised since the 2022-23 ethanol supply year (November-October).

Thursday closed down -0.11 (-0.47%), and December London ICE white sugar #5 (SWZ24) closed down -3.20 (-0.54%). Sugar prices Thursday gave up an early advance and posted moderate losses after the Indian Sugar and Bio-energy Manufacturers Association (ISM) said India will have 2 MMT of sugar to export next season

The government is considering increasing the ethanol price for 2024-25 season as well as minimum selling price of sugar, Food Minister Pralhad Joshi said on Thursday. Joshi said the proposal on hiking the ethanol price is under consideration of the government.