Sugar High Production in India: There are signs of reduction in the price of sugar in the country. The operation of sugar mills in UP is going to start once again from next month. After this, due to the large amount of sugar deposited in the mills of Uttar Pradesh coming out in the market, its price is expected to come down.
UP will consume 40 metric tons
Excessive production of sugar adversely affects its exports. In the coming sugarcane crushing season in Uttar Pradesh, huge quantity of sugar will be available in the market. Against the estimated sugar production of over 100 MT in the upcoming crushing season 2022-23, the state’s own consumption is expected to be 40 MT. If the state fails, a large part of the sugar will be deposited in the mills. It is known that due to the accumulation of sugar in the mills in large quantities, its price is expected to come down.
Palm oil prices down
The price of edible oil had also come down in the last days. The price of palm oil has come down to Rs 77 a litre. Edible oil is expected to become cheaper in the coming days. Companies argue that due to increase in other expenses, the price of oil may come down.
sugar mills will start next month
Sugar mills will start operations next month. Sugar production cost is mainly governed by the State Advisory Price (SAP), which is highest in Uttar Pradesh. The Yogi Adityanath government had increased the SAP from Rs 315 to Rs 340 per quintal in September last year, ahead of the assembly elections.
Rs 35 per kg
According to sources, the cost of sugar production has increased from around Rs 31 to Rs 35 per kg. The sugar industry has now demanded diversion of sugarcane for the manufacture of ethanol. A senior official of the Indian Sugar Mills Association (ISMA) says that last year the situation was relatively suitable when exports took place.
Export policy not announced
The Center has not announced any of its export policy yet. Due to the timely announcement of the sugar export policy, 10 million tonnes of sugar was exported from India. An official of the Sugarcane Development Department said that we are waiting for this. This is a decision that the Center should take soon.
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