Business

Sugar season likely to end with lesser stocks

The closing balance of sugar stocks in the country during the current season ending September is expected to be 20-25 lakh tonnes lesser than the previous season, according to the Indian Sugar Mills Association (ISMA).

The closing stock last season (October 2019-September 2020) stood at 107 lakh tonnes, ISMA said.

Mills have produced 306.65 lakh tonnes between October last year and June 15 this year. This is 35.54 lakh tonnes higher than last season’s production for the corresponding period.

According to the sugar mills and ISMA’s estimates, total sugar sales by mills in May stood at 22.35 lakh tonnes against the domestic sales quota of 22 lakh tonnes. “There is a misunderstanding in the market that the demand for sugar has fallen in the last couple of months,” ISMA said.

“Sugar sales by mills in March stood at 22.34 lakh tonnes, 23.13 lakh tonnes in April and 22.35 lakh tonnes in May. These figures are as reported by the sugar mills from across the country,” ISMA said.

The total sugar sales during the current year (October 2020-September 2021) may cross the estimate of 260 lakh tonnes, which will be 8-10 lakh tonnes higher than last season. Further, sugar exports this year are likely to be about 70 lakh tonnes. So, the closing stock will be less than last year, the association said.


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Printable version | Jul 31, 2021 1:37:16 AM | https://www.thehindu.com/business/sugar-season-likely-to-end-with-lesser-stocks/article34843869.ece

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