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Govt source says sugar mills’ Jul sales quota likely to be 2.1 mln tn

Monday, Jun 29,2020

 

The Centre may set the July sugar sale quota for mills at 2.1 mln tn, higher than 1.85 mln tn for June, a senior government official said today."Quota has been set higher as sales have improved… which is why we have not given extension to previous month's quota this time like it happened in Mar-May," the official said.The government has been fixing the quantity of sugar available for sale on a monthly basis to support prices and help mills clear cane arrears.Demand for the commodity picked up from May-end and is likely to have reached pre-COVID-19 levels due to major relaxations in the lockdown and a pick-up in summer demand, Indian Sugar Mills Association had earlier said.In 2019-20 (Oct-Sep), India's annual domestic sugar sale is seen at 25 mln tn, translating to a little over 2.08 mln tn a month.India consumed about 24.7 mln tn of sugar in 2018-19, based on the monthly sales quota set by the government. Consumption was much lower than the industry's estimate of 25.5-26.0 mln tn.Production of sugar in 2020-21 is likely to rise to 30.5 mln tn after diversion to ethanol, from 27.2 mln tn this year, mainly due to an increase in output in Maharashtra and Karnataka, the second- and third-largest producers, on the back of a normal moonsoon, ISMA had said last week in its preliminary estimates.

 

Source: http://www.cogencis.com/newssect

 

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