Domestic consumption of sugar is expected to increase to 290 lakh tonnes

29-May-2024 07:36 PM

New Delhi. Domestic demand and consumption of sugar is expected to increase to a new record level of 290 lakh tonnes during the current marketing season (October-September) of 2023-24, which is 10 lakh tonnes or about 4 percent more than the consumption of 280 lakh tonnes in the 2022-23 season.

However, industry analysts believe that the demand and consumption of sugar will increase due to the unprecedented most intense heat across the country and the general election campaign, while government officials say that this increase in sugar consumption is normal because on one hand the income of the people is increasing and secondly, there is a change in its food style.

The Union Food Ministry has declared a free sale quota of 25.50 lakh tonnes of sugar for the month of June. With this, a total domestic sale quota of 221 lakh tonnes of sugar has been issued for the current marketing season from October 2023 to June 2024.

After that, the quota will be released for the quarters of July-August and September 2024. If a quota of 24 lakh tonnes per month is fixed for this quarter, it amounts to 72 lakh tonnes and thus a total of 293 lakh tonnes of sugar quota can be allocated for the entire marketing season (October-September), which will be a new record.

Due to the scorching heat, not only has the industrial demand for sugar increased but its consumption has also increased in households. The campaign for crushing sugarcane and production of sugar is almost over and this time about 320 lakh tonnes of sugar is expected to be produced.

Despite the ban on export, the market price of sugar remains at a high level because its demand and consumption is increasing heavily.