Commodity News

Raw sugar import Becoming profitable

A big profit may be achieved by southern Indian mills through 5 lakh tonnes of raw sugar import. Trade administrator said that since the sugar shortfall is more noticed in the southern region, it allow welfare from allocation of the biggest quota of imported sugar.

To stop the shortfall in manufacturing of sugar in Maharashtra and Karnataka the central government has granted import of row sugar till 30 June. Indian Sugar Mills Association (ISMA), president, T Sarita Reddy said "The government has correctly assessed the situation and given benefit to mills in the south and west."

The center has allotted 3 lakh tonnes to the south involving Tamil Nadu, Karnataka and Andhra Pradesh; 1.5 lakh tonnes to the west zone covering Maharashtra; and 0.50 lakh tonnes to the east zone comprising West Bengal and Odisha.

Reddy said, "A lot of mills have come forward to participate in iMports." Due to heavy production in Uttar Pradesh, North India is not expected to face any supply trouble. Since. In Maharashtra, Karnataka, Tamil Nadu and other states in southern India sugar production was lower than last year, this region may face supply shortage by the end of 2016-17 sugar year ending September 30



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