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.

Union Food Minister Pralhad Joshi announces potential ethanol price increase and sugar minimum selling price adjustment for 2024-25.

Ethanol is made by fermenting sugars from crops like sugarcane, grains, or other feedstocks. However, in India, the majority of sugar for ethanol production comes from sugarcane. This raises the conundrum of a food-fuel conflict, as the same crops used for ethanol are also essential for food production.

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.