Covid-19 hits sugar supply chain, global prices; recovery likely soon

According to market watchers, fresh sugar procurement from mills would start soon since the supply chain would have largely dried up during the last couple of weeks

The pandemic Covid-19 scare, which continues to slow down the global economy, has cast its shadow on the domestic sugar supply chain with sugar off take from mills falling in last fortnight. Even international sugar prices have also corrected from $15 per pound to below $12.

According to the Indian Sugar Mills Association (ISMA), the outbreak has pulled down sugar off-take from mills over the last 15 days and the sugar stock in the wholesale and retail market is understood to have been sold in the last couple of weeks.

According to market watchers, fresh sugar procurement from mills would