Market sentiment, hoarding driving sugar prices, not ethanol: Padma Shri scientist

New Delhi, Aug 24 (IANS) The recent rise in sugar prices cannot be attributed to ethanol production as India has sufficient sugar to meet domestic demand and maintains adequate buffer stocks, Padma Shri awardee Dr Bakshi Ram, agricultural scientist and former Director of ICAR-Sugarcane Breeding Institute, Coimbatore, said on Monday.

Speaking exclusively to IANS, Dr Ram said market sentiment, stockpiling and concerns being created around sugar availability were among the key factors behind the recent price increase.