Sugar output likely to rise by 24%: ISMA 

India Infoline News Service | Mumbai | September 07, 2017 15:04 IST

Sugar production in India is likely to increase by 24% to 25.1 million tonnes in the coming marketing year, beginning from October on higher sugarcane crop area, said a data released by the sugar industry body, ISMA.

Sugar production in India is likely to increase by 24% to 25.1 million tonnes in the coming marketing year, beginning from October on higher sugarcane crop area, said a data released by the sugar industry body, ISMA.
 
India’s sugar production is estimated at 20.2 million tonnes for the ongoing marketing year 2016-17 (October-September). The production is expected to increase in the coming marketing year 2017-18 on higher cane area as a result of good monsoons.
 
As according to an ISMA spokesperson in interaction with a leading news agency, the sugar production of the country is estimated at 25.1 million tonnes in 2017-18 compared to a 20.2 million tonnes in the current marketing year.
 
In a bid to raise the domestic supply of sugar, the government had granted its permission for duty free import of 5 lakh tonnes of sugar in the month of April-May this year. Further, the government is planning to allow greater imports to check prices during the upcoming festive season in the country.     
 
Meanwhile, sugar stocks were buzzing during Thursday’s trade. At 1430 hours, Sir Shadi Lal Enterprises was trading at Rs 114.80 per share with a gain of over 5%, Eid-Parry (India) was trading at Rs 341 per share with a gain of 3.54% and KCP Sugar Industries Corporation was trading at Rs 31.45 per share, up by 2.78%.

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