India allows sugar imports for the first time in 10 years, plans to buy 1 million tons

India has allowed sugar imports for the first time in 10 years, with planned purchases of 1 million tons, according to The Times of India. The decision comes amid forecasts of a 20% drop in the country's sugar reserves by the end of the current year, as well as government efforts to combat stockpiling by companies, rising prices, and speculation. Over the past two months, sugar prices have increased by 40% compared to the same period last year.