Sugar latest news india

Sugar as a space has been buzzing. There has been an increase in the import duty of sugar to nearly 100 percent, and now according to government sources, government is likely to ask the sugar mills to hold 83 percent of their January stocks by February end. This would be increased to 88 percent of February stocks to be held until the end of March.

In an interview to CNBC-TV18, Prafful Vithlani, Chairman of All India Sugar Trade Association (AISTA), spoke about the impact on the sugar prices.

What is your sense on prices then because there is some recovery that we have seen in prices and sugar stocks as well, but do you see it sustaining,

any sense on the prices going forward?

A: If this type of sale restrictions will be there, I think sugar prices will go up by 10 percentage definitely. All companies bottomline will go up and this is currently they are selling below cost of the product and I think this will shoot up having a good margin of net profit margin on the sugar industry.