Indian sugar mills have backed out of import deals to the tune of 100,000 tonnes, and traders have diverted cargoes, as tumbling prices make overseas purchases unviable
Last week, the government took steps to increase availability of sugar and contain prices
The government on Friday said it would amend a new sugarcane pricing rule, bowing to protests held in the capital by farmers demanding higher prices
Thousands of farmers protesting low state-controlled sugarcane prices forced the postponement of the first day of the parliamentary winter session on Thursday
Analysts say India would need a second successive monsoon failure to set the grain markets on fire as this year's stocks will leave just a slim cushion
