Winning Bizness Desk

Mumbai. The onus to control inflation has now shifted to sugarcane and the sugar produced from it, and therefore it is expected that its prices will come down and consumers will get some relief. Recently, the government has presented the figures of record production of sugarcane. In the year 2021-22 sugarcane year, the total production has been produced at 5,000 lakh tonnes, which is being told as a record. According to commodity experts, there can be a big fall in the price of sugar this summer and it's prices can be cheaper by Rs 2000 per ton i.e. Rs 2 per kg at the retail level. According to the daily retail figures of the Department of Consumer Affairs, the price of sugar can go below Rs 40 per kg in summer.

Current price is 41.89 Rs per kg

On the record production of sugarcane, experts say that the government is increasing this export, even after that there will be a lot of sugarcane stock left in the country. After which an increase in the production of sugar can also be seen. If the production of sugar increases, then there will be a fall in the prices. According to experts, the price of sugar at the retail level can be cheaper by Rs 2,000 per tonne, i.e. Rs 2 per kg. According to the Department of Consumer Affairs, the average price of sugar at the retail level in the country on Saturday is Rs 41.89 per kg. Whose chances of going below 40 rupees are visible.

Export target of 60 lakh metric tonnes

IIFL Vice President Anuj Gupta said that after the record production of sugarcane, the government will increase its export. At present, the government's export target is 60 lakh metric tonnes. In such a situation, even after the government revises this target, a lot of sugarcane will be left and record production of sugar can be seen and the price of sugar can come down. Anuj Gupta said that this summer the price of sugar may fall by Rs 2 per kg. This decline can be seen at the retail level.

2021-22 a historic year for the Indian sugar sector

The year 2021-22 has proved to be a historic season for the Indian sugar sector. All the records of sugarcane production, sugar production, sugar exports, sugarcane procurement, sugarcane arrears payment and ethanol production were broken during this session. During this season, the country produced a record sugarcane production of over 5,000 lakh metric tonnes (LMT), of which about 3,574 LMT was crushed in sugar mills. This resulted in production of 394 lakh MT sugar (sucrose), of which 36 lakh MT sugar was used in ethanol production and 359 LMT sugar was produced by sugar mills.