Domestic sugar consumption could rise 2-3% this season, says ICRA
Updated : May 31, 2019 12:33 PM IST
Domestic sugar consumption is likely to increase by 2-3 percent to around 25.8 million metric tonne (MT) this year and the production would be higher by at least 6.5-7.0 million MT, said rating agency ICRA.
It added, “Sugar production in SY2019 is expected to be marginally higher at around 32.5-33.0 million MT when compared to 32.2 million MT in SY2018."
On the international front, the rating agency said that the international sugar prices have largely followed expectations on global supplies.