Sugar Industry plays a significant role in the India’s Development
Sugar Industry is an important Agro-based industry that impacts rural livelihood of about 5 crore sugarcane farmers & their families & around 5 lakh workers directly employed in sugar mills & other ancillary activities.
Position of Sugar Mills in India
There are 756 installed sugar factories in the country as on 30.11.2021, with sufficient crushing capacity to produce around 350 lakh MT of sugar. The capacity is roughly distributed equally between private sector units and co-operative sector units.
The capacity of sugar mills is, by and large, in the range of 2500 TCD-5000 TCD bracket but increasingly expanding and going even beyond 10000 TCD. Two standalone refineries have also been established in the country in the coastal belt of Gujarat and West Bengal which produce refined sugar mainly from imported raw sugar as also from indigenously produced raw sugar. Out of 756 installed sugar mills, 522 mills are operational and operated in sugar season 2021-22.
Sugar production in India had been cyclic in nature. Every 2-3 years of high sugar production were followed by low sugar production. However, from the sugar season 2017-18 and onwards, the country has produced surplus sugar than the domestic requirement of about 250-265 Lakh Metric Tonnes.
India is now structurally sugar surplus country and is also exporting sugar to other countries. During last sugar season 2021-22, India has exported around 110 LMT of sugar. In the current sugar season 2022-23, Government of India has allocated a quantity of 60 LMT of sugar for export to the sugar mills across the country and it is expected that the whole quantity will be exported by sugar mills.
Top Most Sugar Stocks Companies
The Top Sugar Stocks Companies like Balrampur Chini Mills, Dhampur Sugar Mills, and Dwarikesh Sugar Industries have experienced a surge in their share prices. This significant increase is attributed to the strong operational performance of these companies.
The Indian Sugar Industry as one of the largest agro-based industries in India, the sugar industry plays a significant role in the country’s socio-economic development. It also contributes substantially to the production of ethanol, a biofuel and the power generation aspect.
The Indian Sugar Industry In the coming months, the performance of sugar stocks will largely depend on various influencing factors such as government policies, global and domestic sugar prices, and the overall economic scenario.
The pivotal role of the sugar industry in the Indian economy, constant scrutiny of its performance is crucial.