Shree Renuka Sugars, is likely to crush 37% more sugarcane at 5.5MT in the 2010-11 marketing year starting October, on the back of higher supplies.
Narendra Murkumbi, company CEO and Vice-Chairman, was quoted as saying that " We had crushed about four mt last year. We will crush between 5 and 5.5 mt during the year depending on the yields in 2010-11”.
He further added that the Government should allow export of sugar lying at ports. “About 4.5 lakh tons of raw sugar and 1.5 lakh tons of white sugar are lying at ports. The Government should allow exports because when the season begins, the first priority will be to crush domestic cane instead of refining the imported raw sugar.
India, expects to produce over 25MT in 2010-11, up from around 18.7MT in 2009-10, on the back of increase in cane plantation area as a result of good monsoon.