Categories: Business

Sugar demand to improve further says ISMA

Photo: GOOGLE

Sugar demand

new Delhi. The demand for sugar will improve once the public restrictions or lockdown rules relaxed due to Kovid-19. The Indian Sugar Mills Association, ie ISMA, says that the demand for sugar in the country has started improving and the demand will improve further after the opening of hotels and restaurants. The government has extended the nationwide bandh till 30 June. Apart from this, Unlock India Scheme has been announced under which malls, hotels, restaurants and religious places will be opened gradually. However, due to Kovid-19 cases, there will be no such relaxation in the control areas.

ISMA said in a statement on Tuesday that since the beginning of May, the demand for sugar has improved since the lockdown rules were relaxed. "Now that the country is in the 'unlock' phase and malls and restaurants are allowed to open, sugar demand will increase further in June," the statement said. Isma said that apart from the summer demand It is said that the sugar mills will not only be able to sell their entire June quota, but they will also be able to sell the remaining quota of May. The government has allowed mills to sell 1.7 million tonnes of sugar in May and 18.50 lakh tonnes of sugar in June. May's quota has been given one more month to sell. Isma said sugar mills have been able to sell sugar in April for the same period a year earlier. This is due to the fact that at the end of February, sugar mills had sold additional 1 million tonnes. The statement said that mills from North India were successful in selling their monthly quota in May. But mills in West and South India probably have some monthly quota left. Isma said demand is increasing. Sugar sales in the 2019-20 sugar year ending in September will probably be five lakh tonnes lower than the previous year.

Regarding production, ISMA said that sugar production in the first eight months of 2019-20 (October-September) season has been 26.8 million tonnes. However, this is lower than the 3.27 million tonnes in the same period last year. However, the industry body believes that the total sugar production in this season could reach 27 million tonnes, which is higher than its earlier estimate of 26.5 million tonnes.

This post was published on June 3, 2020 3:05 am

Content Team

Recent Posts

Ban on gaming apps hopes for opportunity for domestic sector

Photo: MEDIATEK online gaming new Delhi. The government has banned 118 apps keeping in mind the security of the country.…

India august gold imports double to hit 8 months peak says source

Photo: TIMESOFINDIA gold import at 8 months high new Delhi. The economy is now looking forward to a gradual recovery.…

Coal India Q1 profit plunges 55 percent YoY

Photo: GOOGLE Coal India Q1 result new Delhi. Coal India's profit fell 55 per cent in the first quarter to…