The international sugar prices are now at a low of about 21 cents per pound. There has been a big decline from over 30 cents per pound peaked in February this year. Ever since then, there has been a continued downward trajectory in terms of global sugar prices causing the sugar sector to be under a lot of pressure.
M Manickam, MD of Sakthi Sugars, in an interview with CNBC-TV18's Sonia Shenoy and Mitali Mukherjee, said that he feels that the sugar price range will be impinged on the dollar and oil prices.
He further added,
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