CATCH ME UP
India reversed course on sugar after domestic prices reached record highs.
The government first allowed millions of tonnes in exports to manage a perceived surplus.
It later imposed a ban on exports, strict stock limits, and duty-free imports.
Crop estimates fell because of adverse weather, disease, and cane diversion.
Why it mattersUnstable sugar policies impact domestic food prices and global market supplies.
More context
The reporting says fragmented data, early production deception, and thin reserves contributed to forecasting errors.
Government and industry representatives disagree over whether a genuine shortage exists.