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India to remain major sugarproducer: Report

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Mumbai: India is expected to remain a major sugar producer globally and the industry isexpected be a net exporter in 2015-16 marketing year, says a report.

"India will continue to be a major sugar producer in the world and is expected to be a sugarsurplus country for the sixth consecutive Sugar Season (SS), (which runs from October-September).

"Indian Sugar Industry (ISI) is expected be a net exporter in 2015-16, and sugar imports, ifany, will be negligible," said the Care Ratings report.

The average sugar recovery rate for cane (planted in both tropical and sub-tropical regions)is also expected to improve during the year.

On the consumption side, the report pointed out that strong domestic demand from softdrink manufacturers, confectioneries, hotels, bakeries and ice-cream manufacturers willsupport higher levels of consumption.

"India's relatively strong economic growth, stable political situation, rising incomes, a youngpopulation, and changing consumer consumption patterns are envisaged to be the keydrivers encouraging higher sugar consumption," it said.

However, the report said that sugar prices in the country are expected to remain weak dueto surplus sugar stock in both domestic and global markets.

It said the government's intervention will become necessary to revive the sugar industry,which has been reeling under the twin impacts of high sugarcane prices and low salesrealisation on sugar leading to recurring losses by sugar mills and mounting cane arrears.

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In order to boost the industry, Care said the government needs to take steps such asincreasing ethanol blending, providing flexibility for use of sugarcane as feed-stocks forethanol production, building buffer stocks, incentivising exports through higher subsidy,restructuring debt of sugar manufacturers and implementation of recommendation of theRangarajan Committee for linking the prices of cane to actual realisation of sugar.

India produces around 300-350 Million Tonne sugarcane, 24-26 Million Tonne white sugarand 6-8 Million Tonne Jaggery and Khandsari annually.

Moreover, the Sugar industry produces about 2,700 Million Litres of alcohol, 2,300 MegaWatt power and multiple allied products.

 

(PTI)

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