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India is one of the largest consumers of sugar in the world, and the industry is burdened with the surplus sugar stock. The sugar sector may face a big challenge ahead as many companies are pitching for sugar-free products, which will ultimately low down sugar consumption in India.
Experts believe under the pretext of sugar-free products; many are doing negative marketing, which would hamper the sugar industry. Maharashtra Sugar Commissioner, Mr. Shekhar Gaikwad while speaking at an event organised by West Indian Sugar Mills Association in association with Deccan Sugar Technologist Association (DSTA), in Pune on June 17 highlighted the rise of negative marketing, which is going against the sugar industry. “Some people are doing negative marketing of sugar in the name of sugar-free. In future, tagline with ‘Sugar is dangerous for health’, such a situation should not arise.”
Also, nowadays people are becoming more health conscious, eyeing which companies are discovering more options and looking forward to introducing products for such consumers. Eventually, it will low down sugar consumption.
“Looking at the current scenario, upcoming two to three years are very important for the sugar industry”, Mr. Gaikwad further added.
The industry body, ISMA, had estimated that the sugar production in India in current year is anticipated to be around 33 MMT, about 5,00,000 tonnes more than last year.
Considering the current scenario, the sugar stocks at the end of the 2018-19 marketing year would be at a higher level at around 14.7 MMT taking into account the opening balance of 10.7 MMT as on October 1, 2018, and estimated record output of 33 MMT and domestic demand of 26 MMT as well as the export of 3 MMT.
The Government is emphasising on ethanol production to strengthen the financial condition of sugar mills and reduce the sugar glut in India.