The Indian sugar industry has been reeling under crisis and has been seeking a booster from the Government. The industry has alerted a collapse mainly due to the projected sugar production for the ongoing season 2020/21 which is expected to be huger than the normal excessive and the delay in the announcement of the export policy which may take away the share of Indian sugar in the global markets. Although the domestic sugar prices are intact because of Minimum Selling Price (MSP), industry stakeholders assume that without exports the total stock in the country will be 150 to 160 LMT, which may play havoc with MSP and harm the domestic market.
In a meeting held on Thursday chaired by Minister of Commerce and Industry and Minister of Consumer Affairs, Food and Public Distribution Piyush Goyal stakeholders from the sugar industry shared their concerns and expectations from the Government of India.
The various issues flagged in the meeting include the balance sheet of Indian sugar, pending claims under various schemes, Minimum Selling Price of Sugar, Export policy, Buffer stock scheme, restructuring & reschedulement of loans, payments of cane dues etc.