India's Sugar Industry Faces Domestic Challenges Amid Global Price Decline and Stable Outlook

India's sugar industry faces challenges from policy reversals, frozen price support, and global energy disruptions, impacting cooperative mills and risking farmer shifts away from sugarcane, which could affect export reliability. Meanwhile, global sugar prices have declined due to a Brazilian surplus, but India's domestic sugar outlook remains stable with projected production growth and steady demand. Export quotas exist, but shipments lag, and ethanol diversification continues to influence the sector's dynamics.