India may ban sugar exports for the next season starting in October due to diminished cane yields caused by insufficient rainfall, reported news agency Reuters citing three government sources.

This anticipated move follows a lack of rain impacting top cane-producing areas, with monsoon rains in Maharashtra and Karnataka being up to 50 per cent below average.

A ban on Indian sugar exports, which has not happened in seven years, could drive up global benchmark prices, potentially increasing inflation in global food markets