Reassuring the Nation: Adequate Sugar Supply Expected for Diwali Festivities

Ravi Gupta, Executive Director of Shree Renuka Sugars Ltd, assures no panic is necessary despite the recent spike in sugar prices. Ample sugar supply is on hand, with imports and new-season sugar set to bolster availability ahead of Diwali. Government efforts and industry efficiencies ensure a steady supply.

Despite recent concerns over sugar price hikes, Ravi Gupta, Executive Director of Shree Renuka Sugars Ltd, assures that ample sugar supplies exist in the market. Additional upcoming imports and the early start of the new sugar season are expected to ease any supply tension ahead of the upcoming Diwali festivities.

Gupta, speaking at an Indian Sugar & Bio-energy Manufacturers Association event, highlighted that sugar prices have already decreased by 25% recently. With a million tonnes of sugar imports under the Tariff Rate Quota and new seasonal sugar arriving mid-October, there's confidence in uninterrupted festive supplies.

Gupta also dismissed claims that ethanol production is affecting sugar availability, defending the balance between sucrose used for food, ethanol, and exports. He noted that the industry has improved efficiency through technology and new revenue streams, maintaining timely payments to farmers and avoiding sugarcane arrears.