It is required for India to import an additional 2 million tonnes (MT) of sugar during 2009-10 season in order to meet the domestic demand, an industry body said.

“The country has contracted to import 3.8 million tonnes of sugar so
far this season, of which, 1.8 million tonnes have arrived,” Indian
Sugar Mills Association President Sameer Somaiya said.

Moreover, the country has an opening stock of 1.5 million tonnes of
imported sugar, taking the total availability from the overseas market
to 5.3 million tonnes.

“The gap between domestic demand and supply is 7 million tonnes. So, we
need to import another 2 million tonnes of sugar in the next
nine-and-half months,” he said.

Somaiya said India’s sugar output is estimated at a little lower than
16 million tonnes in 2009-10 (October-September), while the domestic
demand is fastened at 23 million tonnes.

Sugar prices have doubled in last one year at Rs 40 a kg. In order to
restrain rise in sugar prices, the government permitted imports of raw
and refined sugar at zero duty from April to increase domestic
availability.

Source: Business Today

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