Sugar production in the country has increased marginally by 2.5 per cent to 7.96 million tonnes in the first three months of the ongoing marketing year ending September 2013, according to industry body ISMA.
Narendra Murkumbi, managing director of Shree Renuka Sugars told CNBC-TV18, the company has already produced 8 million tonne sugar the current season and expects to produce another 15 million tonne.
Sugar production has marginally declined to 23.30 lakh tonnes in the first two months of the 2012-13 marketing year that started in October against 23.92 lakh tonnes in the year-ago period, industry body ISMA said.
Mills have produced two lakh tonnes more sugar at 9.84 lakh tonnes in the first one-and- half-month period of 2012-13 marketing year that started from October, due to higher crushing in Karnataka, industry body ISMA said today.
Gautam Goel, President of ISMA believes it is a very welcome move and hopes that the states adopting State Advisory Price (SAP) will now move on to the new recommendation of profit sharing.
In an interview with CNBC-TV18, M Manickam, MD of Sakthi Sugars said looking at the stress on sugarcane due to scarcity of rainfall, it was more or less anticipated. He also feels that sugar prices may increase to Rs 35-36 to bring about a positive parity.
Sugar production is likely to fall by almost 8% to 24 million tonnes in the 2012-13 marketing year starting October, but the supply of the sweetener will be enough to meet the domestic demand, industry body ISMA said today.
The government is not averse to decontrolling the sugar sector provided the move does not affect the interest of farmers and consumers, Food Secretary B C Gupta said today.
Sugar prices in retail markets are unlikely to surge due to an additional export of five lakh tonne of the sweetener, an industry body ISMA has said.
Sugar output of India, the world's second largest producer after Brazil, could rise by about 10% to 26.5 million tonnes in 2011-12 sugar year starting October on higher cane area, industry body ISMA said on Tuesday.
India's sugar mills will soon seek government permission to export an additional half a million tonnes of the sweetner as output is expected to rise in the next season from October, the chief of a leading industry body said on Wednesday.