Sugar demand falters in peak season due to virus curbs
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‘Prices fell 0.8% in 2019-20 because of lockdowns’
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Lower domestic sales could force mills to export more sugar in the next marketing year, putting pressure on global prices as well. File Photo.
‘Prices fell 0.8% in 2019-20 because of lockdowns’
India’s sugar consumption during the peak demand season is set to fall for a second straight year after various States imposed restrictions, including restaurant and shop closures to halt rising cases of COVID-19, industry officials told
Reuters.
Lower demand could increase inventories in India, the world’s biggest consumer of the sweetener, and may put downward pressure on local prices.
4/19/2021
By Rajendra Jadhav
MUMBAI, April 19 (Reuters) - India s sugar consumption
during the peak demand season is set to fall for a second
straight year after various states imposed restrictions
including restaurant and shop closures to halt rising cases of
COVID-19, industry officials told Reuters.
Lower demand could increase inventories in India, the
world s biggest consumer of the sweetener, and may put downward
pressure on local prices. Lower domestic sales could force mills
to export more sugar in the next marketing year, putting
pressure on global prices as well. . The second wave of coronavirus has been disrupting the
market during the peak demand season. Purchases by bulk buyers
India s sugar demand falters during peak season due to COVID-19 curbs indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Sugar mills have exported 2.49 million tonnes of the sweetener so far in the ongoing 2020-21 marketing year ending September, with maximum shipments to Indonesia, trade body AISTA said on Monday. Mills have contracted to export 3.33 million tonnes of sugar so far as against the 6 million tonnes quota assigned by the food ministry, .