Indian sugar mills association

India to start 2016-17 sugar year with 21.3% lower stocks

Date:	05 May 2016

Source:	The Financial Express

Reporter:	Reuters

News ID:	5508

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NEW DELHI: India, the world's biggest sugar consumer, is likely to start the 2016-17 marketing year on October 1 with 7 million tonnes in carry-forward stocks, down 21.3 per cent from a year ago, Food Minister Ram Vilas Paswan said on Wednesday.

The production in the current year ending September 30 is likely to drop following two drought years in a row.

The centre has asked state governments to impose stock limits on sugar to avoid hoarding by traders.

India is likely to become a net importer of sugar in 2016-17 as back-to-back drought years and dry irrigation channels ravage cane fields, with output in Uttar Pradesh, biggest sugarcane producing state seen dropping by more than 40 per cent.

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