The Hindu Business Line : Sugar prices may stay firm

NEW DELHI: Despite an expected higher level of production, domestic sugar prices are likely to remain steady in the next sugar-marketing year beginning October 1, as the carryover stocks are expected to be low.

"Carryover stocks from the current 2004-05 sugar marketing year are expected to be only around 30 lakh tonnes (lt). So, despite, a higher expected production of sugar in 2005-06, prices will remain stable," said Mr Siddharth Shriram, MD, Mawana Sugars. He said sugar production in 2005-06 is expected to be around 180 lt, higher than an estimated 130 lt in 2004-05.

Mr Shriram said since the country's sugar consumption is expected to be around 192 lt in 2005-06, a four per cent increase over expected consumption in 2004-05, the total sugar availability of 210 lt would not result in major imbalance in demand and supply. He said though it was still too early to make an accurate assessment, initial expectations for 2006-07 sugar production are around 190 lt.

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