This is likely Domestic sugar consumption for SY2017 is likely to report a de-growth of 3 per cent- 3.5 per centto around 24.0 million MT when compared to last year.
Consumption of edible oils in India is nearly 21.0 million tonnes against which the local production is hardly 6.0 to 6.5 million tonnes and we have to import.
The earlier record of exports was of 18.73 lakh tonne in 2009-10. The country has already exported 24 lakh tonne onions, worth Rs 3,386 crore, in 2016-17.
The trade body expects increase in area under sugarcane in the drought hit states of Maharashtra and Karnataka during the next crushing season.
The state’s sugar output will be half of last year’s level when the two mills stop crushing in a week’s time, industry executives estimated.
“Currency crunch due to demonetisation slowed purchases by end consumers during the first quarter of the year affected the demand and import,” said BV Mehta, executive director, SEA.
The other crucial event in his life was when Gaikwad lost his father during his teenage years. Gaikwad struggled to finish his education in engineering in Pune.
Separately, bumper produce of tur and moong have pushed their prices below the minimum set by the government.
The stable textile outlook is in view of stable input prices, healthy capacity utilisation and steady domestic demand scenario in FY18.
FMCG companies that buy the sweetener in bulk account for 70% of local sales of sugar. The April June quarter contributes more than 40% annual sales of the Rs 14,000 crore industry.
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