India has enough sugar for its domestic needs at reasonable prices throughout the year, the food ministry said late on Monday.
In the 2022-23 sugar season (October-September), India is expected to produce 336 lakh tonnes of sugar with about 50 lakh tonnes being diverted for ethanol production. Thus, total production in the country is 386 million tons, which is slightly less than last year’s production of 395 million tons (359 million tons of sugar for ethanol production, 36 million tons), but the second highest in the last five years.
“As far as the sugar production scenario is concerned, Maharashtra and Karnataka have received less sugar production this season due to reduced yields such as untimely rains in September-October 2022. However, some states like Tamil Nadu. Higher production compared to last year. Thus, overall, sucrose production is expected to be about 3 percent less than the previous 2021-22 season,” the food ministry said in a statement.
Taking into account domestic consumption of 275 million tonnes of sugar and exports of around 61 million tonnes, the closure stock is expected to be around 70 million tonnes, which the food ministry believes is enough to meet nearly three months of domestic demand.
As far as its price is concerned, the domestic ex-factory price of sugar is stable and in the range of Rs 32-35 per kg. The average retail price of sugar in the country is Rs 41.50 per kg and is likely to remain in the range of Rs 37-43 per kg in the coming months.
(Except for the headline, this story was not edited by NDTV staff and was published on a syndicated channel.)
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