π Ethanol diversion not the cause of sugar price hike
The recent surge in sugar prices has led to widespread speculation regarding ethanol diversion as the primary reason. However, reports indicate that this issue does not account for the current market instability. Specifically, the price increases have been noted over the last few months across various markets in India. Underlying factors like global supply chain disruptions and local demand fluctuations are contributing significantly to this trend. Authorities are currently monitoring the situation to stabilize the market and manage consumer expectations moving forward. π