4 OCT, 2012, RAM SAHGAL, ET BUREAU
MUMBAI: The consumer affairs ministry is working on a scheme to improve the accuracy of sugar production estimates data even as the government on Wednesday revised the official figure for the current season down to 23.1 mn tonnes against the industry estimate of 24 mn tonnes.
"We need more accurate estimates," said KV Thomas, consumer affairs minister. "Estimates on sugar production from the industry or (on crop production) by the agri ministry leave something to be desired. We are in the process of working on a scheme involving, among others, computerisation of production data to improve the accuracy of production estimates."
Thomas ruled out any shortage in production of the sweetener, thanks to a 6mn tonne carryforward stock which would ensure production well in excess of the required 22.2 mn tonnes. On the demand of scrapping
the import duty on raw sugar by some Maharashtra sugar mills, Thomas said a decision would be taken only after current season crushing ends, around December.
Retail prices of sugar have risen by around 25% since July as prospects for the monsoon began to turn bleak. Since then, the retail sugar price in Mumbai has increased to Rs 41 Over the same period world sugar prices have fallen from 22 cents per pound to 19c/lb and now stand at 21c/lb, making them 20% cheaper than domestic prices and resulting in a chorus from some producers in the state for a reduction on import duty on raw sugar to nil from the current 10%.
The cane commissioners from major sugar producing states such as Maharashtra and UP pegged production in the former at 6.3 mn tonnes and 7.7 mn tonnes each. Normally, at 35% Maharashtra is the largest contributor to the sugar crop, followed by UP at 25%, according to industry sources.
MUMBAI: The consumer affairs ministry is working on a scheme to improve the accuracy of sugar production estimates data even as the government on Wednesday revised the official figure for the current season down to 23.1 mn tonnes against the industry estimate of 24 mn tonnes.
"We need more accurate estimates," said KV Thomas, consumer affairs minister. "Estimates on sugar production from the industry or (on crop production) by the agri ministry leave something to be desired. We are in the process of working on a scheme involving, among others, computerisation of production data to improve the accuracy of production estimates."
Thomas ruled out any shortage in production of the sweetener, thanks to a 6mn tonne carryforward stock which would ensure production well in excess of the required 22.2 mn tonnes. On the demand of scrapping
the import duty on raw sugar by some Maharashtra sugar mills, Thomas said a decision would be taken only after current season crushing ends, around December.
Retail prices of sugar have risen by around 25% since July as prospects for the monsoon began to turn bleak. Since then, the retail sugar price in Mumbai has increased to Rs 41 Over the same period world sugar prices have fallen from 22 cents per pound to 19c/lb and now stand at 21c/lb, making them 20% cheaper than domestic prices and resulting in a chorus from some producers in the state for a reduction on import duty on raw sugar to nil from the current 10%.
The cane commissioners from major sugar producing states such as Maharashtra and UP pegged production in the former at 6.3 mn tonnes and 7.7 mn tonnes each. Normally, at 35% Maharashtra is the largest contributor to the sugar crop, followed by UP at 25%, according to industry sources.
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