ISMA pegs Indian sugar production in the on-going year 2015-16 at 24 million tonne, about 3 million tonne less than the previous year. ISMA estimates that the country can start the new sugar year with an opening balance ..
As speculations of India becoming the net importer of sugar are rising, Indian Sugar Mills Association(ISMA) said on Monday there is no need to import the sweetener for the next 24 months.
ISMA said sugar millers are optimistic about the domestic availability of sugar in India. “Our estimation is that there will be an availability of 31 million tonne of sugar in the 2016-17 sugar year beginning in October. If the country consumes even the outer limit of 26 million tonne, the sugar stock (carryover) on October 1 2017, the beginning of the next sugar year, will be 5 million tonne, which is a massive amount,” said ISMA.
ISMA pegs Indian sugar production in the on-going year 2015-16 at 24 million tonne, about 3 million tonne less than the previous year prompted by the drought-like conditions in Maharashtra and Northern Karnataka.
ISMA hopes the country can start the new sugar year with an opening balance of 7 million tonne to 7.5 million tonne.
More will update soon!!
