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The mills at the A.S.R./B.S.I. factory at Tower Hill cranked up this morning to give way to the 2018-2018 sugar cane crop. Production is expected to be in the range of one hundred and forty thousand metric tons for the export market where there is already a surplus of sugar. The millers last year invested more than twenty million dollars to mitigate the impact of the drop in prices. They want to increase production of Direction Consumption Sugar and enter new markets which are posing new challenges. Given the circumstances, there is nervousness among cane farmers who find themselves at a difficult juncture. News Five’s Hipolito Novelo reports.
Sugar cane price fixed at Rs 2,750 per ton
Will the government’s new measures help ease sugar mills’ financial stress? In conversation with Shree Renuka Sugars’ Narendra Murkumbi
Brace yourself for tough times ahead as sugar prices are bound to shoot up given that the level of the stock continues to drop, creating inadequacy in the market. According to the Sugar Directorate, stocks have fallen from 16,000 tonnes to 14,000 in the last two weeks.
This comes even as the shelf price of the sweetener has stabilised with a two kilo retailing at 250 shillings from 270 shillings last month.
Cheap, duty free sugar which had been held for investigation for mercury was released into the market for consumption, and coupled with increased competition from cheap sugar imports in the market, helped reduce the prices of sugar in February.
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Sugar prices have climbed down by over 30 per cent in parts of India, at least in the wholesale market after a good crop but when will this translate into lower sugar prices for you and me? -NDTV
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