Wednesday 1 February 2023
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EconomyExpect sugar price to go down due to surplus supply

Expect sugar price to go down due to surplus supply

New Delhi: India will have about 30-31 million MT sugar stock available for the next sugar season 2016-17, which would be more than sufficient to meet the domestic of consumption.

Sugar during 2016-17 season is estimated to be 23-24 million MT. Coupled with the estimated carry-over stock of 7.3 million MT from the current sugar season, the availability of sugar for the domestic consumption will 30-31 million MT against the of about 25.5 million MT. Hence, there will be no shortage of domestically produced sugar in India.

In the beginning of the ongoing sugar season 2015-16, India started with a carryover stock of 9 million MT from the last season.

This report of the actual situation on ground should put to rest alarmist speculations some media houses are indulging in, with the assumption that the unfortunate incidences of suicides of farmers who cultivate sugarcane must be linked to a low or insufficient of sugar.

It is suspected that some hoarders and black marketeers may have planted reports of the kind quoted above. This report is meant to keep the consumers aware of the ground situation.

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