India sugar prices hit record high on tight supplies, festival demand

Indian sugar prices surged 10% in the past month to a record high, driven by tightening supplies and rising festival demand. Traders and industry officials expect prices to remain elevated for at least three months. This increase contributes to retail inflation, which has exceeded the central bank's target for the first time in 17 years.

By Rajendra Jadhav MUMBAI, Aug 5 (Reuters) - Indian sugar prices have jumped 10% over the past month to a record high and are expected to remain elevated for at least the next three months as supplies tighten and festival demand gathers pace, traders and industry officials told Reuters. Rising prices will add to retail inflation that breached the central bank's target for the first time in 17