India Has Sufficient Sugar Stock; Its Price to Remain Under Control in 2017
The sugar mills of the country have commenced the crushing operation smoothly and have produced about 66 Lakh MT of sugar so far in this season. The sugar production of India is expected to be about 22.5 million MT by the end of the season. With a surplus sugar stock of 7.71 million MT, the total availability of sugar is sufficient to meet the estimated domestic demand of about 25 mMT.
The stock position at the close of the current sugar season (Sept. 2017) is likely to be 5.21 mMT which will be carried forward for the next sugar season of 2017-18, as shared by the Ministry of Consumer Affairs & Publication Distribution .
Moreover, the sugar production in the coming sugar season (2017-18) is anticipated to be good and is likely to start early and therefore there will be no shortage of domestically produced sugar in India. The ministry also informed that by November 2017, another 2 mMT would be available from early crushing and the government has taken necessary steps to maintain sufficient stocks in the country and keep the sugar prices under-control.