India DGFT Bans Sugar Exports; ICE Raw Sugar Surges 2% on May 19

GateNews
SUGAR1.29%
According to Jin10, China Securities research shows India's Directorate General of Foreign Trade (DGFT) announced a full export ban on sugar on May 19. The ban triggered immediate market reactions: New York ICE raw sugar futures jumped over 2% in a single day, while London white sugar surged 3%. The market had priced in the policy partially in advance, with this season's cumulative exports at approximately 700,000 tonnes viewed as the maximum possible level. India's main sugar buyers are concentrated in Africa, West Asia, and South Asia.
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