IBEF: June, 2015
Mumbai: As per a report by CARE Ratings, in the Sugar Season (SS) between October 2015-September 2016, India will continue to remain one of the world’s largest sugar producers and a sugar surplus country for a sixth season in a row. The Indian Sugar Industry (ISI) produces around 24-26 million tonne white sugar and 6-8 million tonne jaggery and khandsari annually from 300-350 million tonne sugarcane. This year, the average sugar recovery rate for cane (ratio of sugar produced from sugarcane crushed) is also expected to improve. Demand for sugar remains strong from domestic food and beverages manufacturers such as confectionaries, bakeries, ice‑cream manufacturers, hotels and soft drink manufacturers. At the same time, as per the report, there is a need for government intervention to resolve issues such as high sugarcane prices and restructuring of debt of sugar manufacturers in addition to resolving cane arrears.