Indian govt says sufficient sugar available for domestic needs

Business Tuesday 07/March/2023 10:42 AM
Indian govt says sufficient sugar available for domestic needs

New Delhi: There is sufficient sugar available in India for domestic needs at reasonable prices throughout the year, said the food ministry on Monday evening.

In sugar season 2022-23 (October-September), India is expected to produce 336 lakh tonne of sugar with a diversion of about 50 lakh tonne for ethanol production.

Thus, total production in the country would be 386 lakh tonne, a little less than last year's production of 395 lakh tonne (359 lakh tonne sugar + 36 lakh tonne for ethanol production) but the second highest in the last five years.

"As far as the sugar production scenario is concerned, Maharashtra and Karnataka have got less sugar production this season due to reduced yield which can be attributed to ratoon crop as well as untimely rains during Sep-Oct 2022. However, some states like Tamil Nadu have higher production than last year. So overall, sucrose production is expected to be less by about 3 per cent from last season 2021-22," said the food ministry in a release.

Keeping in view the domestic consumption of about 275 lakh tonne of sugar and exports of about 61 lakh tonne, the closing stock is expected at about 70 lakh tonne, which the food ministry said is sufficient to meet domestic demand for about three months.

Coming to its prices, domestic ex-mill prices of sugar are stable and in the range of Rs 32-35 per kg. The average retail price of sugar in the country is about Rs 41.50 per kg and is likely to remain in the range of Rs 37-43 per kg in the coming months.