India's Simbhaoli company plans to import another 160,000 tons of raw sugar
[India] Simbhaoli company intends to import another 160,000 tons of raw sugar
(Agricultural Wealth Network) Dow Jones Mumbai news, G.S.C. Rao, executive director of India's Simbhaoli Sugar Company, said this Thursday that in addition to the already signed contract to import 200,000 tons of raw sugar, Simbhaoli company also intends to import another 160,000 tons of raw sugar in the new sugar milling year starting October 1 this year.
Given the domestic supply gap, more sugar will have to be imported to meet domestic consumption demand. So far, Simbhaoli has processed 100,000 tons of imported raw sugar.
It is expected that India's sugar production in the 09-10 sugar milling year will reach only 16 million tons, while domestic consumption will be as high as 23 million tons. Against the background that domestic sugar supply is far behind consumption, it is estimated that India's total imports of raw and white sugar in the 09-10 sugar milling year will reach 7-8 million tons. India's domestic sugar consumption increment is growing at an annual increment of 1 million tons, so increasing domestic sugar supply is urgent.
At the same time, our focus in this sugar milling year will be on being able to obtain enough sugarcane.
Simbhaoli Sugar Company, located in India's second-largest sugarcane-producing state, Uttar Pradesh, postponed the start of crushing because it did not reach an agreement with sugarcane farmers on the price of sugarcane. At present, two of the company's sugar mills have started crushing this Wednesday, and it intends to pay sugarcane farmers 165-170 Indian rupees per 100 kg of sugarcane. Of course, it cannot be ruled out that further measures to incentivize sugarcane farmers will be introduced later.
It is estimated that the company's sugar production in the 09-10 sugar milling year is expected to double, thereby reaching 530,000 tons. As of September 30, Simbhaoli company's sugar carryover volume was 70,000 tons.
Given the domestic supply gap, more sugar will have to be imported to meet domestic consumption demand. So far, Simbhaoli has processed 100,000 tons of imported raw sugar.
It is expected that India's sugar production in the 09-10 sugar milling year will reach only 16 million tons, while domestic consumption will be as high as 23 million tons. Against the background that domestic sugar supply is far behind consumption, it is estimated that India's total imports of raw and white sugar in the 09-10 sugar milling year will reach 7-8 million tons. India's domestic sugar consumption increment is growing at an annual increment of 1 million tons, so increasing domestic sugar supply is urgent.
At the same time, our focus in this sugar milling year will be on being able to obtain enough sugarcane.
Simbhaoli Sugar Company, located in India's second-largest sugarcane-producing state, Uttar Pradesh, postponed the start of crushing because it did not reach an agreement with sugarcane farmers on the price of sugarcane. At present, two of the company's sugar mills have started crushing this Wednesday, and it intends to pay sugarcane farmers 165-170 Indian rupees per 100 kg of sugarcane. Of course, it cannot be ruled out that further measures to incentivize sugarcane farmers will be introduced later.
It is estimated that the company's sugar production in the 09-10 sugar milling year is expected to double, thereby reaching 530,000 tons. As of September 30, Simbhaoli company's sugar carryover volume was 70,000 tons.