Sugar Prices Update: The effect of reduction in sugar production is already visible. There is a jump in the prices of sugar.
Sugar Price Hike Likely: The sweetness of sugar may turn bitter in the coming days. Because sugar can become expensive in the coming days. There may be a decrease in the production of current sugar. The National Federation of Cooperative Sugar Federation (NFCSF) has reduced the estimate of sugar production to 32.7 million tonnes in the current year ending September 2022-23. Earlier it had estimated production of 35.5 million tonnes.
In the current season, the production of sugar is estimated to be less by 9 percent as compared to 2021-22. In 2021-22, 3.59 crore tonnes of sugar was produced. According to NFCSF, about 531 sugar mills across the country have produced 32.03 million tonnes of sugar till April 30. Out of 531 sugar mills, 67 mills are still operational. NFCSF President Jaiprakash Dandegaonkar said, considering the current pace of crushing, the current sugar season in the country will continue till the end of May and about 32.7 million tonnes of sugar is expected to be produced.
He said that apart from this, about 45 lakh tonnes of sugar molasses is estimated to be used for ethanol production. NFCSF said its estimate is based on the latest information on sugarcane and sugar production.
The effect of reduction in sugar production is already visible on the prices. In the last one month, there has been a jump in the prices of sugar up to Rs 1.50 per kg. The sugar which was available at Rs 41 per kg a month ago is now available at Rs 42.50 per kg. There has been a rise in the prices of sugar in the wholesale market as well.
The cost of sugar means that everything from biscuits to chocolates, cold drinks, sweets will become expensive. That is, due to expensive sugar, the pockets of the common people are going to be cut.
