As sugar stocks rise, ISMA calls for lifting export curbs
The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) estimates the current sugar season to end in September with a stock of 91 lakh tonnes.
ISMA in a statement said the sugar marketing season (October to September) every year ends with about 55 lakh tonnes. But this year, it is likely to be higher by 36 lakh tonnes. This “can potentially lead to additional costs for millers on account of idle inventory,” it said.
The opening stock in October last year was about 56 lakh tonnes and expected domestic consumption for the current season is about 285 lakh tonnes.
The government has raised Fair and Remunerative Price (FRP) of sugarcane for 2024-2025 sugar season by ₹25 per quintal to ₹340 per quintal. This will hike the cane cost and the cost of sugar production and the mills will have to pay for cane supplies within 14 days.
Deepak Ballani, Director General, ISMA, said, “Allowing exports would not only ensure a comfortable stock for domestic consumption and sustain the Ethanol Blending Programme (EBP) but also contribute to maintaining the financial liquidity of sugar mills, enabling timely payments to farmers.”The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) estimates the current sugar season to conclude in September this year with 91 lakh tonnes of sugar stock.
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