Business Mantra News
- In view of the expected increase in production of sugar in India in 2017-18 Government has withdrawn stock holding and turnover limits on sugar dealers with immediate effect.
- The sugar production of India is likely to be increased at 249 lakh tons in the 2017-18 which had been recorded 203 lakh tons in the previous year.
- The step is taken as demand and supply is likely to be balanced with the estimated rise in the production of sugar.
- But still it is expected that the prices of sugar will remain unchanged and stable at reasonable level due to smooth availability of sugar.
- India is the world’s second largest producer of Sugar, its sugar production grown 30 per cent to 69.4 lacs tone in the first two and half months of this fiscal year.
- Due to price decontrol on sugar and despite significant increase in production of Sugar, Government has not reduced the domestic price of sugar.