In 2023, India's raw sugar equivalent import volume was recorded at approximately 2.28 million metric tons. Forecast data from 2024 to 2028 indicates a steady growth, with an expected increase to 2.48 million metric tons by 2028. The year-on-year growth rate is consistent, reflecting a stable rising trend with approximately 1.72% annual increase. Over the five-year period, the compound annual growth rate (CAGR) remains at this level, highlighting a modest but consistent expansion in import volumes.
Future trends to watch for include potential policy changes impacting import tariffs, fluctuations in domestic sugar production capacity, and variations in global sugar prices that could affect import volumes. Attention should also be paid to technological advancements in agriculture that may enhance local sugar yield and reduce dependency on imports.
