Indian sugar mills association

There is no sugar deficit in the country, expecting surplus next year: Abinash Verma, ISMA

Date:	17 Jun 2016

Source:	The Economic Times

Reporter:	ETNow

News ID:	5685

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In an interview to ET Now , Abinash Verma , Director General, ISMA, shares his views on the Indian sugar sector. Edited excerpts:

ET Now: Where do you think prices are headed in light of the demand supply?

Abinash Verma: First of all, we will be starting the next season with seven million or slightly more than that. He has mentioned 6.5 we are expecting it to be at seven and I am sure almost sure about it. Second is next year's sugar production estimates whoever is making I would like to ask them on what basis are they making, is it just speculation because sitting in one corner of the country and not having details of the whole country and then estimating or projecting some kind of a number is not correct.

ISMA which is the national body which represents the whole sugar industry across the country would be the best placed association to talk about the numbers and we are not giving numbers out currently because we do a very detailed satellite imaging or getting pictures from the satellite to understand what is the area for the harvest season and on that basis we will come out with our numbers in July beginning.

And therefore to talk about numbers of 23 and raise a concern that it come down to 20-21 is pure speculation and I think it is wrong to do at the present moment. But let me also mention that the rainfall is good and it is certainly going to be above normal which means whatever crop is there on the field it will be better, it will grow better, it will get better yields, the recovery might be better.

So it can be better than what people are generally expecting. If the government's estimates which the government mentioned in the parliament is about 23.5 million tons next sugar season, we add that to 7 million tons of opening balance, we have 30.5 million tons of sugar availability in the next sugar season.

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