With the new sugar season to commence in the next 2 months away seems to be a challenging one owing to the opening sugar stock of 145 LMT and expected production of 285 LMT summing to a total availability of 430 LMT is setting a new record in the history of India’s sugar sector.
Speaking at the apex body National Federation of Cooperative Sugar Factories 60th Annual General Meeting, President Dilip Walse Patil in his address threw light on a couple of important issues concerning the Indian sugar sector in general and the cooperative sugar industry in particular. He was optimistic that the Government of India will soon come out with robust policies on allowing conversion of sugar stock into Ethanol & offering enhanced purchase prices for Ethanol based on the pre-brief on the impending challenge with suggested remedial measures.
Patil also expressed that, “There is need for creation of Price Stabilization Fund which will help the industry whenever there ups and downs in the market. There is another important issue pertaining to sugar MSP. I request DFPD to kindly compute all finance costs including depreciation in re-fixing sugar MSP so as to bring it at par with average cost of production. Once we do this, I am sure the current financial stress that the country’s sugar sector is reeling through will get diluted and pave way for creation of a financially confident sugar industry for years to come.”
“Another thing looming large is the “Anti Sugar Campaign” which has potential to seriously impair sugar consumption & thereby push the sector towards financial sickness. In fact sugar per se, is not responsible for causing health concern as projected in the draft policy of FSSAI. We have firmly opposed it with supporting evidence based on scientific reports. What is alarming that the domestic sugar consumption has already stagnated due to reduced buying of industrial bulk buyers who contribute almost 67% of India’s domestic sugar consumption. I take this opportunity to request the health ministry & FSSAI to hear the industry views before taking any final decision on this crucial matter.” He added.
To Listen to this News click on the button below the image.