'No sugar shortage': ISMA says India has enough stocks, expects prices to cool down soon
India does not have a sugar shortage, industry body ISMA said on Monday, soothing concerns over the sweetner's supplies amid a recent rise in retail prices. The industry body also expects sugar prices to come down in the coming
Indian Sugar Mills Association president Niraj Shirgaokar said that the recent price rise was mainly due to speculative stocking and lower production caused by weather-related issues. “India does not have a sugar shortage and the supply situation is fundamentally strong,” Shirgaokar said, adding that the country has sufficient stocks and supplies to meet festival demand.
Indian Sugar Mills Association president Niraj Shirgaokar said that the recent price rise was mainly due to speculative stocking and lower production caused by weather-related issues. “India does not have a sugar shortage and the supply situation is fundamentally strong,” Shirgaokar said, adding that the country has sufficient stocks and supplies to meet festival demand.
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