The beleaguered domestic sugar sector, bogged down by mounting sugarcane areas and market glut, is looking at ‘sweeter’ times next season (2019-20) over projected lower sugarcane crop coupled with higher diversion of the crop for ethanol manufacturing.
Besides, the likely higher off-take of sugar in this summer season is also a positive for the sugar industry. Centre has raised sugar sales quota to 2.1 million tonnes (MT) for May and a similar quota is expected for June 2019.
According to Indian Sugar Mills Association (ISMA), water in Maharashtra reservoirs was below normal levels due to lower rainfall in the last