Expect sugar demand to pick up towards the end of January: ISMA
Latest Indian Sugar Mills Association (ISMA) report shows that production of sugar has gone up more than 30 percent year-on-year (YoY)
Latest Indian Sugar Mills Association (ISMA) report shows that production of sugar has gone up more than 30 percent year-on-year (YoY).
According to Abinash Verma, Director General at ISMA, demand was low in the past couple of months but he expects demand to pick up towards the end of January.
On production figures, he said, “If you look at the numbers YOY basis, you will feel that it is higher than last year because last year was a drought year. But if you compare that with previous year to last year that is 2018-2019 you will see that production is slightly less than that year. It is almost as per our estimate because last to last year we produced almost three hundred and thirty lakh tonne and this year we are expecting to do three hundred and ten lakh tonne.”
On sugar sales, Verma said, “In the last couple of months our sugar sales has not been as good as we expected. The main demand in December and January used to come from marriages, weddings, festivals etc. because this time the guest are restricted to the 100 because of COVID our sugar demand is also so much less.”
“I personally expect the demand should be coming up in the later part of January," he added.
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(Edited by : Bivekananda Biswas)
First Published: Jan 18, 2021 5:24 PM IST
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