Look forward to good crushing season; no reason for prices to go down: Dwarikesh Sugar

Dwarikesh Sugar has posted a subdued Q2. Both profits and margins remain weak. In an interview to CNBC-TV18, Vijay S Banka, Wholetime Director and CFO of Dwarikesh Sugar Industries spoke about the results and his outlook for the company.

Q2 is normally a challenging quarter, he said. We have been selling sugar aggressively and the price realisation was good. We look forward to a good crushing season, he added.

Half yearly performance of this year has been much better compared to the half yearly performance of the last year, said Banka.

For the season of 2017-2018, we expect a production of about 25 million tonne and we expect consumption of about similar number, he further mentioned.

He said there is no reason for the sugar prices to go down from here and expects them to sustain at current levels.

He siad it is not possible to hazard a guess for 2017-2018 season but as of now expects consumption of more than 26.5 million tonne by 2018-2019.

For full interview, watch accompanying video...