Most brokerages have a positive stance on India's sugar industry as it appears well poised to benefit from global and domestic factors
Consumption in India has stagnated at 19 kilograms per capita per year compared with a global average of 23 kilograms
Demand has emerged from cold drink and ice creams makers that seek to fill pipeline inventory which got diminished during the lockdown due to factory closure and freight disruptions
With the malls and restaurants being allowed to open under unlock 1.0, the sugar demand will further rise.
The factories were able to supply only a third of OMC requirements in the second tender
Global sugar consumption is expected to climb 1.3 per cent in the 2019-20 season, slightly below the five-year average, the International Sugar Organization said in a report
The prospects of India emerging as a major exporter that will cut into Brazil's share of global trade have enraged the Global Sugar Alliance
Global production will top demand by 19.6 million metric tons in the 12 months that end Sept. 30, the biggest overhang ever, Brisbane, Australia-based Green Pool said