Sugar prices hiked by festivals: Production in Maharashtra at four-year low

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- Bhoo Bazar : Dilip Shah

- Govt's cautious approach on export issue: World market also increased: Fear of production in Maharashtra going below 100 lakh tonnes

In the sugar market and industry in the country, trends have recently been seen to turn rapidly. The festive season has started in the country and after Shravan, Rakshabandhan, Janmashtami, now the festivals of Lord Ganapati are coming and after that such festive season will continue till Navratri, Dussehra and Diwali and such season will last till Christmas, market sources said. Retail demand and bulk consumer demand in the country's sugar markets generally increase during the festive season. As the rains in Adhura decreased in the whole of August and now in September, the demand for cold drinks has also increased due to the heat in the weather, and as a result of this, inquiries and demand of such cold drink manufacturers in the sugar market were being heard in the market. Market prices have also remained firm. In the Navi Mumbai wholesale sugar market, there were indications recently that the price of small grade was around Rs.3750 to 3850 and medium grade was around Rs.3845 to 3955 per kg.

The state of Maharashtra is considered important in the production of sugar in the country and the market experts were showing the possibility that the production of sugar in such Maharashtra will fall to the lowest level in 4 years in the new season that will start from now. As the rainfall decreased significantly in August and now in September as well, as the temperature is high and the rain is low, the informants were showing the fear of adverse impact on the sugarcane crop in Maharashtra. The new sugar season of 2023-24 in the country is going to start from October next month and in this new season sugar production in Maharashtra is likely to decrease by around 13 to 14 percent to a 4-year low, sources in the sugar industry were showing. There are fears of reduced cane-yield due to reduced rainfall affecting sugarcane. Sugar prices have risen to a multi-decade high amidst short supply in the world market, and in such a situation, bright opportunities have been created for sugar exports from India, but the Indian government is currently adopting a wait-and-see policy on the issue of sugar exports amid fears of a setback in production in the country as well. Now that various important elections are coming up, the government is paying special attention to this issue and paying special attention to control the price of sugar in the country. However, the financial condition of the sugar mills has improved as the domestic prices have increased and due to this, there has been a discussion in the sugar industry that such mills have become determined to pay sugarcane to the sugarcane farmers at the earliest. About one-third of the normal annual production of sugar in the country is produced in Maharashtra. Sources of the West Indian Sugar Mills Association showed the possibility that production in such an important state of Maharashtra will decrease by about 90 lakh tons in the next sugar season. In the previous sugar season 2022-23, production in Maharashtra was around 105 lakh tonnes. Most of the sugarcane growing areas in Maharashtra have received low rainfall. Sources said that the rainfall this year has decreased by around 55 to 60 percent compared to the usual August rainfall in Maharashtra every year. Between dry weather and high temperature, there is a possibility of significant reduction in cane yield. In the season of 2021-22, sugar production in Maharashtra was around 137 lakh tonnes and at that time the government allowed the export of around 112 lakh tonnes of sugar from the country. Apart from Maharashtra, the state of Uttar Pradesh is also considered important in sugar production. Meanwhile, Maharashtra's production fell by 105 lakh tonnes in 2022-23, while countrywide exports fell to 61 lakh tonnes in the year. Now, given the possibility of further reduction in sugar production even in the season of 2023-24, there are indications that the government will not rush to export sugar.

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