Image Credits: cadenagramonte.cu
India’s sugar production ascended by 45% this year & reached 281.82 lakh tonnes.
This is about 92.95 lakh tonnes more than last year. Due to unexpected surplus sugar availability the domestic ex-mill prices have crashed once again.
As per industrial sources, the numbers of the Major Producing States as on 05/04/2018 are drawn as follows in Lac MT:
Uttar Pradesh 98.74
Due to an unexpected surplus sugar availability of around 45 lakh tonne of sugar over and above the required closing balance during the current 2017-18 season, the domestic ex-mill prices have crashed once again, and the all-India average ex-mill sugar price is hovering at about Rs 3,000 per quintal. This is already about Rs 500 to 600 per quintal below the cost of production of sugar.