Government lifts some curbs on sugar sector: source

India has lifted some curbs on sales in the tightly regulated sugar sector, a government source said on Thursday, in a move aimed at stabilising production in the world’s biggest consumer of the sweetener.

No further details were immediately available.

The action comes months after the prime minister’s economic adviser recommended easing restrictions which are in place partly to keep a lid on local prices and partly as a legacy of a planned economy where the state regulated most sectors.

Analysts have cited tight regulations for sharp swings in output, leading to large-scale imports and exports every few years. India’s frequent imports and exports can trigger volatility in global prices.

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