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Last Updated : Mar 06, 2018 09:47 AM IST | Source: CNBC-TV18

May have to revise the sugar production expectation further: ISMA

In an interview with CNBC-TV18, Abinash Verma, Director General, ISMA, spoke about the latest happenings in sugar sector. The sugar industry has produced 230.5 lakh tonnes of sugar this season which is 67.88 lakh tonnes more than last year.

CNBC TV18 @moneycontrolcom

In an interview with CNBC-TV18, Abinash Verma, Director General, ISMA, spoke about the latest happenings in sugar sector. The sugar industry has produced 230.5 lakh tonnes of sugar this season which is 67.88 lakh tonnes more than last year.

Talking about revising production estimates he said, “We did revise out estimate on the January 17th to 261 lakh tonnes but from that date onward we are seeing that the yields in Maharashtra and North Karnataka are giving us real surprises. The yields per hectare there are probably coming out to the best or the highest ever probably in the history and that is why we will have to revise our production estimates tomorrow in our board meeting.

“We have already seen that the ex-mill sugar prices which were hovering around Rs 36 or 37 per kg in the last season did see a fall from November to about January and it went down to almost about average about Rs 31. It has improved to about Rs 32-33 now. But there is a pressure because these are surprises which the market was not expecting about 30 lakh tonnes extra.” He further added on movement of prices.

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First Published on Mar 6, 2018 09:44 am
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