Sugar prices likely to stay around current levels: ISMA

International raw sugar prices continued to firm up for the fifth day to USD 20.51 backed by strong demand, lower sugar output and firm crude oil prices. The Indian sugar industry is also seeking to restructure the Rs 50,000 crore term loans and restore ethanol prices to last year's level. They have also sought excise duty waiver on ethanol.According to Abinash Verma, DG at ISMA, Indian sugar prices which have fallen in the last two months by about Rs 2-2.50 per kilogram have started stabilising. He said due to lower offtake and demonetisation, demand for sugar sweetened products like chocolates and biscuits has fallen.Verma added the production and supply of sugar is almost equivalent and prices should remain stable for the next 12-16 months.Watch videos for more ...