Indian Sugar Mills Association director general resigns unexpectedly

Abinash Verma, a leading figure in the sugar industry, has resigned unexpectedly from the Indian Sugar Mills Association (ISMA) as its director-general, the producers' body said in a statement on Friday.

As the world's No. 1 consumer of the sweetener and the biggest producer behind Brazil, India plays a crucial role in the world sugar market. Since Oct. 1, 2022, when the current sugar season began, Indian mills have signed contracts to export a record 8 million tonnes of the sweetener.

India's sugar mills have sold record volumes of the sweetener on the world market without any subsidy.

In previous years, India's subsidy