#largest exporter of sugar

[anamseair]

Explore the global sugar trade, including key trends, top exporters like Brazil and India, product categories, and growth opportunities. Dive into sugar export data, policies, and the evolving dynamics of this essential market. Perfect for traders and policymakers!

[notwiselybuttoowell]

West Papua’s Indigenous people have called for a boycott of KitKat, Smarties and Aero chocolate, Oreo biscuits and Ritz crackers, and the cosmetics brands Pantene and Herbal Essences, over alleged ecocide in their territory.

All are products that contain palm oil and are made, say the campaigners, by companies that source the ingredient directly from West Papua, which has been under Indonesian control since 1963 and where thousands of acres of rainforest are being cleared for agriculture.

More than 90 West Papuan tribes, political organisations and religious groups have endorsed the call for a boycott, which they say should continue until the people of West Papua are given the right to self-determination.

Raki Ap, a spokesperson for the United Liberation Movement for West Papua, which is overseeing the call, said: “These products are linked to human rights violations, in the first place, because West Papuans are being forced, with violence, to get off the land where they’ve lived for thousands of years, which has now resulted in ecocide.

“This is a signal to the countries who are dealing with Indonesia, especially those in the Pacific region, to take notice of who they’re dealing with and how they are basically allowing Indonesia to continue the colonial project in West Papua, the human rights violations, and also ecocide.”

West Papuans say more than 500,000 of their people have been killed by the occupation in the past six decades, while millions of acres of their ancestral lands have been destroyed for corporate profit. Indonesia, already the world’s largest palm oil exporter, is now breaking ground in West Papua on the world’s biggest single palm oil plantation, as well as a sugar cane and biofuel plantation that will be the largest deforestation project ever launched.

“West Papuans’, especially the ULMWP, position is very clear: we are a modern-day colony,” said Ap, speaking from the Netherlands.

“Indonesia hijacked the right to self-determination in 1962 when the Netherlands and Indonesia signed an agreement without any consultation in West Papua … After that, in 1969, there was a so-called referendum, which wasn’t fair, which wasn’t under international law, one man, one vote: just 1,025 men were handpicked at gunpoint to vote for integration to Indonesia.

“So this is the foundation of the Indonesia’s colonial project. When we became part of Indonesia against our will, basically the genocide unfolded.”

[eximpedia1]

India’s Sugar Industry: Production, Export, and Market Insights

Sugar plays a vital role in the global food processing industry, particularly in baking and confectionery. Among the widely used types are granulated, caster, icing, and jam-setting sugar. With the rapid rise in sugar consumption worldwide, countries like India and Brazil have emerged as leading players in meeting global demand. India, in particular, is a key producer, consumer, and exporter of sugar. This article delves into India’s sugar production, export trends, top exporters, and much more.

India’s Sugar Production: A Key Global Contributor

India boasts the second-largest agro-based sugarcane and sugar industry globally, following cotton. With states like Uttar Pradesh, Maharashtra, and Karnataka leading production, India is a powerhouse in sugarcane farming and sugar manufacturing. Uttar Pradesh, in particular, consistently leads with significant contributions to national production.

In the 2023–2024 fiscal year, India produced approximately 34 million metric tonnes of sugar. This production involved over 1,084.57 lakh tonnes of sugarcane processed in 118 mills across Uttar Pradesh. Beyond its economic contributions, the industry supports the livelihoods of rural sugarcane farmers and employs nearly 500,000 workers in sugar mills, generating a gross value-added output of 806 billion INR.

The Economic Impact of India’s Sugar Industry

In 2023, the global industrial sugar market was valued at USD 46.4 billion and is projected to grow at a CAGR of 5.0%, reaching USD 59.1 billion by 2028. India is a significant contributor to this growth. Domestically, India’s sugar market is expected to grow at a CAGR of 6.87%, reaching USD 9.791 billion by 2028, with the branded sugar segment alone estimated to hit USD 1.47 billion by 2029.

The increasing demand for processed foods, beverages, and desserts drives the growth of India’s sugar industry. With sugar deeply integrated into Indian and global culinary habits, the demand trajectory appears robust.

India’s Role as a Leading Sugar Exporter

Sugar export from India have witnessed remarkable growth in recent years. In 2023, the country’s sugar export value reached USD 4.32 billion, a significant leap from USD 0.93 billion in 2018. India's share in the global sugar export market also increased from 4.17% in 2018 to 12.21% in 2023.

Favorable agricultural policies and robust production standards fuel India’s position as the second-largest sugar exporter globally. Southeast Asia and Africa are key regions driving demand for Indian sugar.

Sugar Export Trends and Data for 2023–24

Despite India’s success in the export market, the government restricted sugar exports for the 2023–24 marketing year (October–September) to stabilize domestic prices and ensure sufficient local supply. However, exports to the US and European Union under TRQ quotas were exempted from these restrictions.

In the fiscal year 2024, India managed to export 3 million metric tons of sugar, which includes a variety of products such as:

White Crystal Sugar

Brown Sugar

Icing/Fondant Sugar

Organic Sugar

Jaggery (Round and Powder)

Pharmaceutical Sugar

Export Prices of Indian Sugar (2023)

Export prices vary depending on the type of sugar. Below are a few examples:

Icumsa Sugar (Less Than 100): ₹36.50/kg

Palm Jaggery: ₹35/kg

Pure Sugarcane Jaggery: ₹55/kg

S-30 Grade Sugar: ₹32/kg

Major Export Destinations (2022–23)

Indonesia: ₹67.47 billion

Bangladesh: ₹42.68 billion

Sudan: ₹41.99 billion

United Arab Emirates: ₹22.38 billion

Somalia: ₹21.73 billion

Indonesia remains the largest importer of Indian sugar, reflecting the country’s strong trade ties and competitive pricing.

Top 10 Sugar Exporters in India

India’s sugar industry includes prominent players contributing to both domestic supply and export growth. Here’s a look at the major sugar exporters in India:

Balrampur Chini Mills Ltd. Produces 76,500 metric tonnes daily across multiple mills in Uttar Pradesh.

Triveni Engineering and Industries Operates seven advanced sugar plants certified for pharmaceutical-grade sugar production.

Bajaj Hindustan Ltd. Produces 135,000 metric tonnes of sugar daily and exports to Asia and Europe.

Shree Renuka Sugars Processes 1.38 million metric tonnes of raw sugar annually.

Dhampur Sugar Mills Ltd. Known for refined sulfurless sugar and biofertilizer production.

Dwarikesh Sugar Industries Ltd. Achieves 21,500 metric tonnes in annual sugar production.

EID Parry (India) Operates facilities with a daily crushing capacity of 40,300 metric tonnes.

Panacea Foods Specializes in brown sugar export using integrated production technologies.

Vitthalrao Shinde Sahakari Sakhar Karkhana Ltd. Engages in research and exports white crystal sugar globally.

Nizam Sugars Asia's largest sugar plant, is located in Telangana.

How to Access Comprehensive Sugar Export Data

For businesses seeking to enter or expand in the sugar export market, platforms like Eximpedia offer valuable insights. With sugar export data on top exporters, HS codes, and global trade trends, Eximpedia equips users to navigate market complexities effectively.

Final Thoughts

India’s sugar industry is a pillar of its agro-based economy and a global leader in production and export. Whether you’re a seasoned exporter or a newcomer, understanding market trends, maintaining quality standards, and leveraging export data are essential to success. Platforms like Eximpedia provide a gateway to detailed trade insights, ensuring businesses can thrive in the competitive global sugar market.

If you’re ready to elevate your sugar export business, schedule a free demo with Eximpedia.app and gain access to exclusive market data today!

[seaireximsolution-blog]

The Sugar Export Industry in India: Key Players and Global Influence

India, one of the largest sugar producers in the world, has a significant role in the global sugar market. As the country continues to ramp up its production and export capacity, it is crucial to understand the key players in this industry, the dynamics of global sugar trade, and the technical details involved, such as the HSN codes list used for categorizing sugar and sugar products. This article provides a comprehensive overview of the top 10 sugar exporters in India, examines the position of the world largest exporter of sugar, and explains the relevance of HSN codes in the sugar trade.

The Sugar Industry in India

India’s sugar industry is a vital part of its agricultural and industrial landscape. The country produces a substantial amount of sugarcane, which is processed into sugar and other by-products. This industry not only meets domestic demand but also contributes significantly to exports, making India a crucial player in the global sugar market.

Top 10 Sugar Exporters in India

India’s sugar export market is dominated by several key players, each contributing to the country's significant export volume. Here is a detailed look at the top 10 sugar exporters in India:

Bajaj Hindusthan Sugar Ltd. One of the largest sugar producers in India, Bajaj Hindusthan exports substantial quantities of sugar to various countries, leveraging its extensive production capacity.

Balrampur Chini Mills Ltd. Known for its efficient operations and high-quality sugar, Balrampur Chini Mills is a prominent exporter with a strong presence in international markets.

Shree Renuka Sugars Ltd. With a global footprint, Shree Renuka Sugars is a major player in both domestic and international sugar markets, exporting large volumes annually.

EID Parry (India) Ltd. Part of the Murugappa Group, EID Parry is renowned for its quality sugar and has a significant export portfolio.

Triveni Engineering & Industries Ltd. Triveni is a well-established name in the sugar industry, exporting substantial amounts of sugar to various global destinations.

Dhampur Sugar Mills Ltd. Known for its innovative practices and high-quality products, Dhampur Sugar Mills has a strong export business.

Dalmia Bharat Sugar and Industries Ltd. Dalmia Bharat is a key exporter, benefiting from its robust production facilities and strategic export operations.

Simbhaoli Sugars Ltd. Simbhaoli Sugars has a long history in the industry and a strong export presence, known for its quality and reliability.

Bannari Amman Sugars Ltd. With a reputation for quality, Bannari Amman Sugars exports significant quantities of sugar, catering to international demand.

Andhra Sugars Ltd. Andhra Sugars is a major exporter, leveraging its production capabilities to meet global market requirements.

The World’s Largest Exporter of Sugar

Brazil holds the title of the world largest exporter of sugar. The country’s favorable climate, vast agricultural lands, and advanced production techniques enable it to produce and export massive quantities of sugar. Brazil’s dominance in the global sugar market is a result of its efficient sugarcane industry and strategic export policies.

Brazil’s sugar industry is highly efficient, with advanced technologies and economies of scale that make it a competitive player in the global market. The country’s sugarcane production is integrated with ethanol production, allowing for flexibility and resilience against market fluctuations. This dual-product approach helps Brazil maintain its position as the top exporter by balancing sugar and ethanol outputs based on global demand and price trends.

Understanding HSN Codes and Their Relevance in Sugar Trade

Harmonized System Nomenclature (HSN) codes list are essential for international trade, including the sugar industry. These codes are used to classify products systematically, facilitating trade and ensuring compliance with international standards.

HSN Codes List for Sugar:

1701.11: Raw cane sugar, not containing added flavoring or coloring matter.

1701.12: Raw beet sugar, not containing added flavoring or coloring matter.

1701.91: Refined cane or beet sugar, containing added flavoring or coloring matter.

1701.99: Other sugars, such as chemically pure lactose, maltose, glucose, and fructose.

These codes are crucial for exporters and importers to correctly classify their products, ensuring smooth customs clearance and adherence to international trade regulations. Using the appropriate HSN codes helps in avoiding legal issues and delays in the shipping process.

The Dynamics of Sugar Export from India

India's position as a leading sugar exporter is a result of several factors, including favorable climatic conditions for sugarcane cultivation, government policies supporting the sugar industry, and the efficient operations of major sugar companies. The country exports sugar to various regions, including Asia, Africa, and the Middle East, meeting the growing global demand.

Challenges and Opportunities in the Indian Sugar Export Market

Despite its strengths, the Indian sugar export market faces several challenges, including price volatility, international competition, and regulatory hurdles. However, there are also significant opportunities:

Market Expansion: Exploring new markets can help Indian sugar exporters diversify their customer base and reduce dependence on traditional markets.

Value-Added Products: Developing and exporting value-added sugar products, such as specialty sugars and organic sugar, can open new revenue streams.

Sustainability Practices: Adopting sustainable and eco-friendly practices can enhance the global competitiveness of Indian sugar and attract environmentally conscious consumers.

Conclusion

The sugar export industry in India is a vital component of the country’s economy, driven by major players who contribute significantly to global sugar trade. With Brazil as the world largest exporter of sugar and the crucial role of HSN codes in facilitating international trade, understanding the dynamics of this market is essential for stakeholders. While challenges exist, there are ample opportunities for growth and expansion in the Indian sugar export sector. By leveraging these opportunities, Indian sugar exporters can continue to thrive in the competitive global market.

[fatehbaz]

In fact, far more Asian workers moved to the Americas in the 19th century to make sugar than to build the transcontinental railroad [...]. [T]housands of Chinese migrants were recruited to work [...] on Louisiana’s sugar plantations after the Civil War. [...] Recruited and reviled as "coolies," their presence in sugar production helped justify racial exclusion after the abolition of slavery.

In places where sugar cane is grown, such as Mauritius, Fiji, Hawaii, Guyana, Trinidad and Suriname, there is usually a sizable population of Asians who can trace their ancestry to India, China, Japan, Korea, the Philippines, Indonesia and elsewhere. They are descendants of sugar plantation workers, whose migration and labor embodied the limitations and contradictions of chattel slavery’s slow death in the 19th century. [...]

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Mass consumption of sugar in industrializing Europe and North America rested on mass production of sugar by enslaved Africans in the colonies. The whip, the market, and the law institutionalized slavery across the Americas, including in the U.S. When the Haitian Revolution erupted in 1791 and Napoleon Bonaparte’s mission to reclaim Saint-Domingue, France’s most prized colony, failed, slaveholding regimes around the world grew alarmed. In response to a series of slave rebellions in its own sugar colonies, especially in Jamaica, the British Empire formally abolished slavery in the 1830s. British emancipation included a payment of £20 million to slave owners, an immense sum of money that British taxpayers made loan payments on until 2015.

Importing indentured labor from Asia emerged as a potential way to maintain the British Empire’s sugar plantation system.

In 1838 John Gladstone, father of future prime minister William E. Gladstone, arranged for the shipment of 396 South Asian workers, bound to five years of indentured labor, to his sugar estates in British Guiana. The experiment with “Gladstone coolies,” as those workers came to be known, inaugurated [...] “a new system of [...] [indentured servitude],” which would endure for nearly a century. [...]

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Bonaparte [...] agreed to sell France's claims [...] to the U.S. [...] in 1803, in [...] the Louisiana Purchase. Plantation owners who escaped Saint-Domingue [Haiti] with their enslaved workers helped establish a booming sugar industry in southern Louisiana. On huge plantations surrounding New Orleans, home of the largest slave market in the antebellum South, sugar production took off in the first half of the 19th century. By 1853, Louisiana was producing nearly 25% of all exportable sugar in the world. [...] On the eve of the Civil War, Louisiana’s sugar industry was valued at US$200 million. More than half of that figure represented the valuation of the ownership of human beings – Black people who did the backbreaking labor [...]. By the war’s end, approximately $193 million of the sugar industry’s prewar value had vanished.

Desperate to regain power and authority after the war, Louisiana’s wealthiest planters studied and learned from their Caribbean counterparts. They, too, looked to Asian workers for their salvation, fantasizing that so-called “coolies” [...].

Thousands of Chinese workers landed in Louisiana between 1866 and 1870, recruited from the Caribbean, China and California. Bound to multiyear contracts, they symbolized Louisiana planters’ racial hope [...].

To great fanfare, Louisiana’s wealthiest planters spent thousands of dollars to recruit gangs of Chinese workers. When 140 Chinese laborers arrived on Millaudon plantation near New Orleans on July 4, 1870, at a cost of about $10,000 in recruitment fees, the New Orleans Times reported that they were “young, athletic, intelligent, sober and cleanly” and superior to “the vast majority of our African population.” [...] But [...] [w]hen they heard that other workers earned more, they demanded the same. When planters refused, they ran away. The Chinese recruits, the Planters’ Banner observed in 1871, were “fond of changing about, run away worse than [Black people], and … leave as soon as anybody offers them higher wages.”

When Congress debated excluding the Chinese from the United States in 1882, Rep. Horace F. Page of California argued that the United States could not allow the entry of “millions of cooly slaves and serfs.” That racial reasoning would justify a long series of anti-Asian laws and policies on immigration and naturalization for nearly a century.

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All text above by: Moon-Ho Jung. "Making sugar, making 'coolies': Chinese laborers toiled alongside Black workers on 19th-century Louisiana plantations". The Conversation. 13 January 2022. [All bold emphasis and some paragraph breaks/contractions added by me.]

[bitchesgetriches]

https://meadowbrookacresfarm.com/blog/2020/3/18/how-to-make-sugar-on-snow-the-easy-way

Maple candy for the winter months! It basically tastes like maple syrup, and it's easy to burn yourself making it (PLEASE DO NOT BURN YOURSELF AND BE CAREFUL! TO MAKE CANDY LIKE THIS YOU'LL NEED TO HEAT THE MAPLE SYRUP ABOVE THE TEMPERATURE OF BOILING WATER. NO I"M NOT JOKING). But it's pretty neat since the boiling maple syrup liquid basically freezes and hardens the moment it touches snow.

(Note: It has to be real maple syrup. It won't work if you make it with fake maple syrup-I've tried.)

Ok I know you guys are all sending me pictures of your pets and/or delicious recipes to make me feel better, but can I just... trauma dump for a moment??

The main and only export of my home town... is maple syrup. I grew up in an extremely rural town in New England where most of the maple trees accessible by (windy dirt) road were tapped. The largest business in town is the maple sugar barn, which had a restaurant and gift shop attached where you could buy MAPLE CANDY of all things.

And, well... my grandma died recently. That's part of why I've been so bummed out.

My grandma LOVED the restaurant at the maple sugar barn. I went back for a few weeks to take care of the funeral and everything and I went there with my family for breakfast. Eating french toast with that fresh maple syrup made me feel like she was at the table with us.

So thanks for this, honey. It's exactly what I didn't know I needed.

[germany-beer-ask]

What is your relationship with your provinces?

I think I'd like to start by telling you about them briefly

Bavaria (capital Munich):

The largest land, and at the same time one of the oldest entities in my territory.

Baden-Württemberg (capital Stuttgart):

Formed during the unification of the three states. It is the headquarters of corporations like Porsche, Mercedes, Audi Sport, etc(so it is literally my automotive heart🙏)

Berlin (the capital is Berlin):

It is both the land and the capital at the same time.

The state of Berlin has the most activities in the service sector. It is in the center of the state of Brandenburg, which it has not been a part of since 1920. Speaking of Brandenburg

Brandenburg (the capital is Potsdam):

This is a large in area but sparsely populated federal state.There are few towns, but many lakes and rivers. The forests are home to rare species of animals and birds

Bremen or Free Hanseatic City of Bremen, as you prefer (the capital is Bremen):

The smallest state.Along with Bavaria, considered one of the oldest entities. The only federal state with a speed limit on the autobahns. No more than 130 km/h.

Free Hanseatic city Hamburg.Democracy and "freedom" (capital is Hamburg):

Europe's largest port city.About half of exports and imports pass through the port

Hesse (capital Wiesbaden):

Frankfurt Airport, the third largest airport in Europe, is located there.Unfortunately, Hesse is rarely on the radar of tourists. It is therefore more of a business center than a tourist destination

Mecklenburg-Western Pomerania (capital Schwerin):

This region is known for historic Baltic resorts, sandy beaches as I remember.

Lower Saxony (capital is Hannover):

The most important agricultural region, also about one third of mobility-related products are produced there. Let me explain. Airplane parts, cars, wagons, and agricultural machinery.

Rhineland-Palatinate (capital Mainz):

This land is home to the oldest city-Trier. I suggest visiting the Rheingessen wine region. Hmmm... I can also mention a lot of autobahns, high-speed railroads, as well as the waterways of the Rhine and Moselle

Saarland (capital Saarbrücken):

France still believes this territory should belong to it 💢

Saxony (capital Dresden):

Great people lived and worked in Saxony, such as Johann Sabastian Bach, Felix Mendelssohn-Batroldi and others. I consider Dresden my center of culture and art. I would also advise you to visit the Zwinger Palace

Saxony-Anhalt (the capital is Magdeburg):

The Magdeburg plain and the Harz foothills are considered to be among the most fertile lands. Therefore, vegetables, potatoes, sugar beets and cereals are often grown there.

North Rhine-Westphalia (capital is Düsseldorf):

9 of my 20 largest cities are located here.

I have to mention Cologne Cathedral! And Düsseldorf has the largest Japanese community in hah

Thuringia (capital is Erfurt):

16 UNESCO World Heritage Sites, a history of Bauhaus architecture and many castles and palaces.

Schleswig-Holstein (capital Kiel):

A special dialect of German - Lower German - is spoken in the region, keep in mind. Schleswig-Holstein has an important position in the production of electricity from wind power

I really appreciate and cherish my provinces

[loominggaia]

MATUZAN ECONOMY

The World Athenaeum brings a lot of travelers and business to the kingdom, but this is just a small piece of its large tourism industry. Matuzu has invested heavily in art, education, and culture, creating many beautiful and interesting places to visit.

Though it has lost many acres of farmland to Etios, Matuzu still has large swathes of fertile jungle where many profitable crops are grown, such as coconuts, chocolate, oranges, and ekumelas. This kingdom is also the largest exporter of rubber and sugar on Gaia.

Its abundant natural resources means it has to import very little, creating a secure domestic economy. Almost all of the other Great Kingdoms rely heavily on Matuzu’s many exports, buying everything from lumber to spices and more.

The average Matuzan enjoys a high standard of living, especially by Nymph Pact standards, though this is more true of its urban territories. Some of its rural holds are quite neglected and poor. The High leadership purposefully snatched resources away from these holds to create an “underclass” population. These poor, uneducated citizens are more likely to join the military or work for lower pay. The kingdom has been operating this way since its failure to enslave gaians in the 3rd Age.

Living in Matuzu Kingdom is not cheap, and even its poorest holds balk at the ludicrous taxes they must pay despite getting so little in return. Matuzu Capital City has the highest taxes of any territory on Gaia, though to its credit, it is also considered one of the world’s most beautiful and impressive cities.

SEE ALSO

Matuzu Kingdom Main Page

*

Questions/Comments?

Lore Masterpost

Read the Series

[allthebrazilianpolitics]

‘Losing Noah’s Ark’: Brazil’s plan to turn the Pantanal into waterway threatens world’s biggest wetland

As the evening sky turns violet, the animals of the Pantanal gather near the water. Capybaras swim in tight formation, roseate spoonbills add smudges of pink to the riverbanks, the rumble of a jaguar pulsates from the forest.

This tropical wetland is the largest on Earth, stretching across Brazil, Paraguay and Bolivia, and playing host to some of the greatest gatherings of animals anywhere.

Now, scientists say the survival of the entire biome is at risk.

“The Pantanal is like Noah’s Ark. It is home to animals that are disappearing … a place where those at risk of extinction can survive,” says Pierre Girard, a professor at the Federal University of Mato Grosso.

“That could be about to change,” he says. “The Pantanal, as we know it, could soon cease to exist.”

The 170,000 sq km (42m acre) wild expanse harbours one of the world’s most biologically rich environments, with at least 380 species of fish, 580 types of birds and 2,272 different plants. It is one of the main refuges for jaguars and houses a host of vulnerable and endangered species, including giant river otters, giant armadillos and hyacinth macaws.

But plans are under way to revive plans for the Paraguay River,one of the Pantanal’s main arteries, to be turned into an industrial shipping route for crops such as soya beans and sugar.

Political proponents say the waterway would reduce costs and time for exporting agricultural commodities to North America, Europe and Asia but critics warn that its creation – which involves building new ports, possibly straightening bends and meanders, and large-scale dredging – would cause irreversible damage to the wetland and its wildlife.

“It seems a high price to pay: destroying the Pantanal, one of the world’s unique systems, to reduce the price of grain,” says Carolina Joana da Silva, a professor at Mato Grosso State University. “It is a war – a war which risks extinction.”

Continue reading.

[anamseair]

https://www.seair.co.in/blog/sugar-export-data.aspx

Explore the global sugar export landscape with Seair Exim Solutions. Gain valuable insights into the latest trends, challenges, and opportunities in the world sugar market. Stay informed and make informed decisions for your business growth. Discover export possibilities and strategic insights in our comprehensive blog on the world sugar trade.

[beardedmrbean]

Argentina Scrapped Its Rent Controls. Now the Market Is Thriving.

BUENOS AIRES—For years, Argentina imposed one of the world’s strictest rent-control laws. It was meant to keep homes such as the stately belle epoque apartments of Buenos Aires affordable, but instead, officials here say, rents soared.

Now, the country’s new president, Javier Milei, has scrapped the rental law, along with most government price controls, in a fiscal experiment that he is conducting to revive South America’s second-biggest economy.

The result: The Argentine capital is undergoing a rental-market boom. Landlords are rushing to put their properties back on the market, with Buenos Aires rental supplies increasing by over 170%. While rents are still up in nominal terms, many renters are getting better deals than ever, with a 40% decline in the real price of rental properties when adjusted for inflation since last October, said Federico González Rouco, an economist at Buenos Aires-based Empiria Consultores.

Milei’s move to undo rent-control regulations has resulted in one of the clearest-cut victories for what he calls “economic shock therapy.” He is methodically taking apart a system of price controls, closing government agencies and lifting trade restrictions built up over eight decades of socialist and military rule in an effort that has upended the lives of many Argentines.

In Buenos Aires—a city dubbed the Paris of the South for its broad avenues and cafe culture—many apartments long sat empty, with landlords preferring to keep them vacant, or lease them as vacation rentals, rather than comply with the government’s rent law.

In 2022, there were some 200,000 empty properties in Buenos Aires, up 45% from 2018, according to a report by Cedesu, a Buenos Aires-based policy group that focuses on urban development. Finding an affordable apartment under the rent-control law was difficult.

Aldana Oliver spent about 18 months looking for a place to rent when she left home for the city of La Plata to study dentistry.

“There were few places to rent and those available were very expensive,” said Oliver. After rent control was scrapped, she quickly found a studio apartment for about $200 a month. “I found something really nice. And I got a good price,” she said.

Many new contracts—now permitted in dollars as well as pesos—stipulate rent increases every three months, real-estate agents and tenants say. That has made housing costs unaffordable for some people already struggling to pay higher food and utility prices, said Gervasio Muñoz, who represents an association of tenants in Buenos Aires.

Romina Misenta, a 40-year-old teacher, said rent on her small apartment increased almost threefold when her previous contract ended.

“My situation has worsened a lot,” she said. “I would be paying a lot less in rent if the previous law was still in effect.”

Still, rental prices appear to be stabilizing. Monthly price increases are now at their lowest rate since 2021 as more apartments become available, according to Zonaprop, Argentina’s largest real-estate website.

The Milei administration has also scrapped price controls on staples such as milk and sugar. The president lifted controls on cooking gas, removed export controls on beef and cut government requirements to import steel, hoping to ease construction costs.

And he ditched the restrictions he said made renting an apartment an odyssey that hurt those it was trying to help.

Critics of Milei say he is deepening the economic pain of the working class. And while he remains popular, some polls show his support eroding. In August, he had a 45% approval rating, down from nearly 60% earlier this year, according to pollster Giacobbe Consultores.

“By freeing up prices, it’s very difficult for all these people, including us, to get to the end of the month,” said Amalia Roggero, whose soup kitchen in La Plata has experienced a surge in people seeking food.

Milei, a libertarian economist, long warned Argentines that his free-market changes would initially make conditions worse before they got better as he slashed public spending to tame inflation. He said it was necessary to unravel tight economic controls he inherited from the previous, left-wing Peronist government, which implemented price controls on some 50,000 products from food to clothing as part of its Fair Prices program.

Milei says his measures are delivering results. He is projecting annual inflation of 18% next year, down from the current 237%, one of the world’s highest rates, as he works to tame the never-ending fiscal deficits at the root of Argentina’s decadeslong economic turmoil.

But the government still faces substantial challenges. Bringing inflation down even further after being stuck at roughly 4% a month in recent months will be difficult, with little room for more spending cuts amid demands to restart public works and increase pensions and wages, economists say.

“They inherited a disastrous economic situation, and getting out of this mess will take time,” said Alberto Cavallo, a professor at Harvard Business School who has studied Argentina’s price controls.

At least for now, the housing market is thriving. Opponents of price controls say Argentina is a cautionary lesson for officials from the U.S. to Europe who have looked to curb surging housing costs with rent controls.

President Biden recently called for some rent increases to be capped at 5% annually. And Vice President Kamala Harris said that if elected president she “will take on corporate landlords and cap unfair rent increases.”

González Rouco, the economist, warned against such plans. “With good intentions or a law,” he said, “you can’t modify how markets work. They have their own dynamic.”

In Argentina, the national rental law approved in 2020 during the left-wing government of President Alberto Fernández required a minimum three-year contract. The rents had to be paid in pesos, the country’s volatile currency, which lost about 90% of its value against the dollar on the black market during Fernández’s 2019-to-2023 term. Rental prices could be increased annually but at a rate set by the central bank, which took into account inflation and worker salaries.

With Argentina’s history of high and volatile inflation, property owners took steps to protect themselves from inflation that would quickly eat into the rents if they were forced to wait 12 months before raising prices.

They instead jacked up the starting price for new leases, making it far too expensive for many people to sign a new contract. That resulted in the average rent for a two-bedroom apartment in Buenos Aires costing 27 times the price of 2019, according to Zonaprop.

Some landlords tried to sell. Others listed them on short-term rental sites such as Airbnb, where tourists paid in dollars. Landlords also focused on renting to people within their social circle, resulting in a big black market with informal rental deals that skirted government rules, economists say. Many apartment owners simply mothballed their properties.

“You’d never see rental signs in windows,” said Mariano García Malbrán, the president of the chamber of real-estate companies, describing how rent controls led to shortages. “And properties that were listed with real-estate companies would be gone in a day or two.”

[eximpedia1]

Sugar Export from India: What You Need to Know

Analyze the insight on sugar exports from India. Explore sugar exporters, export destinations, and HS codes. Get actual sugar export data.

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The 170,000 sq km (42m acre) wild expanse harbours one of the world’s most biologically rich environments, with at least 380 species of fish, 580 types of birds and 2,272 different plants. It is one of the main refuges for jaguars and houses a host of vulnerable and endangered species, including giant river otters, giant armadillos and hyacinth macaws.

But plans are under way to revive plans for the Paraguay River, one of the Pantanal’s main arteries, to be turned into an industrial shipping route for crops such as soya beans and sugar.

Political proponents say the waterway would reduce costs and time for exporting agricultural commodities to North America, Europe and Asia but critics warn that its creation – which involves building new ports, possibly straightening bends and meanders, and large-scale dredging – would cause irreversible damage to the wetland and its wildlife.

“It seems a high price to pay: destroying the Pantanal, one of the world’s unique systems, to reduce the price of grain,” says Carolina Joana da Silva, a professor at Mato Grosso State University. “It is a war – a war which risks extinction.”

The threat of the development, known as the Hidrovia Paraguay-Paraná waterway, has haunted the Pantanal for decades. Early iterations – which involved dredging and straightening river curves on hundreds of sites – were shelved by the Brazilian government in 2000 due to environmental concerns.

But the push to develop waterways through the wetland has continued. Now experts believe a new strategy is being deployed, one that sees sections of the project approved piece by piece.

“The politicians and companies are forcing it through dismembered,” says Girard.

[In 2023], the Brazilian government announced that the Paraguay River, which drains the wetland for six months then floods it for the rest of the year, would be developed under its growth acceleration programme. Its website says the national project has “great potential to reduce transportation costs” and that “discussions are being held with society and local stakeholders”.

The government announced an investment of 81m reais [£11m] for dredging, clearing vegetation and adapting the navigable channel’s signage. Preliminary licences were issued for the construction of two port facilities at Porto Esperança and Cáceres, which opponents say is the first step towards transforming the largest natural section of the Paraguay River into an engineered waterway.

The Pantanal, often called the “kingdom of water”, is made up of more than 1,200 rivers and streams, and the vast biodiversity relies on the seasonal flood pattern. Scientists fear dredging and deepening will in effect create a “big drain”, disconnecting the Paraguay River from its floodplain and shrinking the wetland area.

Scientists warn this could destroy aquatic habitats, fish populations, bird nesting areas, and consequently affect other species all the way through the food chain.

Wetlands are also of global importance for the climate. Despite covering only 5-8% of the Earth’s land surface, they could store up to 30% of terrestrial carbon. The Pantanal is a critical carbon sink, but perpetual dredging – which would be required for barges to pass, due to the sandy sediment along the riverbed – would lead to the release of greenhouse gases, further contributing to global warming.

The risk of wildfires could also increase, but such concerns are not being heard, scientists say. “Brazil sees the Amazon as its international environmental playing card,” says Girard, while the Pantanal remains forgotten.

Near Tucum, 55-year-old Edna Luiz Dias grills a freshly caught pacu fish. Her wooden stilted house is surrounded by trees and native plants. “I don’t need much money – only the fish, the birds, the fruits, the nature,” she says.

“But this waterway could take that all away. I can already feel the river changing.”

With its deeply curved rivers and thick marshes, this section of the Pantanal, close to Cáceres, remains sparsely populated by humans, but Porto Esperança already sees the effects of large barges on the river.

An existing port is now used to transport iron. The mineral leaves a thin layer of red dust on the fishing village’s land and trees. There are eight Indigenous communities living in the Pantanal, of which at least the reservation of the Guató people would be directly affected by making the river navigable, scientists say.

In response to this article, the Brazilian ministry for ports and airports said the concerns raised about environmental damage were “opinions” without “scientific elements to support them”, and that a debate for each project would be held. The ministry of environment and climate change did not respond to requests for comment.