[Exclusive Article for Futures Market Monitoring Tools] In-depth Market Analysis: India, which once exported over 11 million tons of sugar in a single quarter, has returned to the import market after a decade. Why did inventory restrictions fail to truly suppress sugar prices, while the 1 million-ton duty-free raw sugar quota quickly changed expectations? StoneX believes that El Niño, sugarcane-to-ethanol production, and whether India will buy sugar again in 2027 are also worth paying attention to. Click to read.