Enough Sugar for this Year, Assures ISMA
Pune: There are sufficient sugar stocks in India to take the country through the next sugar marketing year, trade body Indian Sugar Mills Association (ISMA) said.
This came amid reports that the government is contemplating another round of sugar imports to meet the anticipated high demand during the upcoming festival season. Sugar production fell below consumption in the 2016-17 marketing year, which ends on September 30. This had led to a surge in sugar prices, forcing the government to direct mills to maintain demand-supply balance and curtail the prices. But ISMA said this is not the case. “We have been telling our members to keep selling sugar and we will tell them again,” said T Sarita Reddy, president at ISMA. “The current prices are not higher than the previous year.” The union government, which had increased the import duty on sugar to 50% in July, is reportedly contemplating cutting it to 25% and allowing import of sugar to augment supplies during the the festival season.
The govt, which had increased the import duty on sugar to 50% in July, is reportedly contem-plating cutting it to 25%