India TV

Sugar prices to cool soon? ISMA says no shortage as imports rise and mills prepare to boost output

India's sugar industry has sought to allay concerns over the recent rise in retail sugar prices , saying there is no shortage of the commodity in the country and prices are likely to ease in the coming days. The Indian Sugar Mills Association (ISMA), the apex industry body, attributed the recent price increase to multiple factors, including speculative purchases by traders and bulk consumers, along with lower sugar production due to adverse weather conditions. Addressing a press conference on Monday, ISMA President Niraj Shirgaokar said the industry was not responsible for creating an artificial shortage or pushing up ex-mill sugar prices. He maintained that adequate stocks are available in the country to meet demand.