India Bans Sugar Exports for Four Months to Protect Supply

India, the world’s second-largest sugar producer, has banned exports for more than four months, according to an official notice, as the government seeks to protect local supplies.

The move follows a cut in output estimates from a major millers’ group. India’s gross sugar production is forecast at 32 million tons in the season ending Sept. 30, down from an earlier projection of 32.4 million tons, the Indian Sugar & Bio-Energy Manufacturers Association said last month.

The country’s next harvest, which starts around October, could be also affected by a lower-than-average monsoon. The annual rains that start next month ...