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Sugar mills have to release 4.8 mt by October 31

The quantity works out to 20% more than consumption, price to crash in near term

Dilip Kumar Jha  |  Mumbai 

A7 notification from the Centre last week directed mills not to hold more than 37 per cent of their annual production as inventories by the end of this month, to go down to 24 per cent by end-October. Industry sources estimate 4.8-4.9 mt would be released in the market by October 31, nearly one mt of additional quantity. “Of 532 operational mills, 432 hold between five and 10 per cent of stock as of July 31.

The remaining 100 mills (mostly in Maharashtra) hold sugar up to 50 per cent of their annual output. These 100 will have to dispose their excess inventory immediately to avoid ...

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First Published: Mon, September 12 2016. 22:34 IST
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