Kejriwal Questions Centre over Sugar Price Rise, Links It to Ethanol Production
- On Monday, the Indian Sugar Mills Association asserted that "India does not have a sugar shortage," with ISMA President Niraj Shirgaokar stating retail prices are expected to ease in coming days.
- Speculative buying by traders and lower production from adverse weather drove recent price increases, according to ISMA, which rejected claims that mills created artificial scarcity to inflate ex-mill prices.
- To calm market sentiment, the government permitted duty-free imports of 1 million tonnes of raw sugar, a move Shirgaokar noted has already begun to lower prices in the retail market.
- Transporting sugar from Brazil to India takes around 40 to 45 days, creating uncertainty about arrival volumes before October 15, though President Prakash Naiknavare said some shipments may arrive by then.
- Domestic mills are expected to resume operations around October 15 and produce approximately 10 to 12 lakh tonnes during October, while closing stocks at September's end are projected to reach 35 lakh tonnes.
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69 Articles
Rising prices and gloomy harvest forecasts: India, the world's second largest sugar producer, fears scarcity. Even the daily sweetened tea becomes a luxury for many. From Lena Bodewein.
Why Are Sugar Prices Rising In India? Here’s What’s Driving The Spike
Sugar prices have surged ahead of the festive season, but is India actually facing a shortage? Here’s how crop damage, lower production, festive demand, stockpiling and global prices are pushing up costs.
Despite Duty-free Imports, Sugar Prices To Remain Elevated
“Domestic sugar prices are to correct from recent record highs, but remain healthy, supported by tight inventory conditions and rising cane procurement costs. Policy measures, such as potential restrictions on sugar diversion to ethanol, will be a key variable for sugar prices after crushing begins October”, says Khushbu Lakhotia, Director, Corporate Ratings, Ind-Ra
India sugar rally driven by speculation, not supply shortage, official says
India has enough sugar stocks to meet festival-season demand, with a record price rally driven by speculative buying rather than any real supply shortfall, the head of the country's top sugar industry body said on Monday.
Sugar Prices Likely to Cool off as Panic Buying Eases, Says ISMA
Get latest articles and stories on Business at LatestLY. Sugar prices are likely to cool off as panic and speculative buying ease, with sufficient stocks available in the country, Indian Sugar & Bio-energy Manufacturers Association (ISMA) Director General Deepak Ballani said on Monday. Business News | Sugar Prices Likely to Cool off as Panic Buying Eases, Says ISMA.
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