The Union food ministry on Thursday directed all sugar mills and distilleries to stop using sugarcane juice for production of ethanol for 2023-24 season, in order to ensure an adequate supply of the sweetener for domestic consumption and prevent any hike in its retail prices.
The move is expected to release 1.8-2 million tonne of sugar additionally in the domestic market which would help curb rise in prices amidst reports of fall in sweetener output in Maharashtra and Karnataka this season.
Sources told FE that the government will also put a ban on onion exports soon, in what would follow 'high' minimum exports price (MEP) of $800/tonne imposed in October.
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