Worries that India's sugar production may be hit by the faltering monsoon is a prime reason why sugar values have rallied to a three-year top in the New York raw sugar market.
"Since the beginning of the monsoon season on June 1, rains have been consistently below normal in almost all parts of the country with the deficiency widening with each passing week," the attache's report said.
It added that this drought could be worse than the one that struck in 2002, which caused significant crop losses.
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