India govt measures to boost exports fail to lift spot prices.

The government’s measures to boost exports of sugar failed to lift prices of the sweetener in the key wholesale markets of the country. While the moves did halt the downtrend in key markets of Maharashtra, prices of the sweetener in north India continued to fall. Jittery about expected surplus production, the Centre last week mandated mills across India to export 2 mln tn sugar this season ending September under the Minimum Indicative Export Quantity scheme. Under the scheme, it is mandatory for mills to export the fixed quota, failing which the factories shall be deemed to have violated the directives of the government.