Small BusinessIndia's demand for sugar led to higher global India"s demand for sugar led to higher global Press trust of India / New Delhi July 14, 2009, 15:08 IST
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However, in the domestic wholesale market sugar prices have jumped by over 45 per cent to Rs 2,475 a quintal in June 2009 from Rs 1,700 a quintal in July 2008.
Consumers say they have seen a rise of nearly 59 per cent in retail prices during past one year. The retail prices of sugar were in the range of Rs 25-27 a kg in June this year as against Rs 17-19 per kg in July 2008.
Pointing that the country"s estimated sugar production in the current season is 10.8-11.3 million tonnes less than the last season"s, Thomas said the lower production has put pressure on prices of sugar in the market.
The sugar production in 2008-09 (October-September) is estimated to be in the range of 15-15.5 million tonnes compared to 26.3 million tonnes in 2007-08, he added.