Food Secretary’s clarification on the status of sugar, rice, wheat and edible oils
Union Food Secretary Sanjeev Chopra clarified the status of essential food items. India expects a 10-12 lakh tonne sugar surplus for the 2024-25 season, with exports contingent on meeting ethanol demands. Rice sales to ethanol manufacturers are slow due to high prices. Edible oil prices have risen slightly, influenced by global trends, with India importing 55-57% of its needs.
Union Food Secretary Sanjeev Chopra recently addressed the status of essential food items like sugar, rice, wheat, and edible oils after attending the annual general meeting of the Indian Sugar and Bio Energy Manufacturers Association (ISMA). Key points from his clarification include:
Sugar: The government will make export decisions based on ensuring the domestic demand for ethanol is met. India will have a surplus of around 10-12 lakh tonnes of sugar in the 2024-25 marketing season, after meeting all domestic needs and ethanol production. However, sugar export can only be approved once the government is confident that ethanol requirements are fully satisfied. India’s total sugar production for the 2024-25 season is expected to reach 320 lakh tonnes, with about 290 lakh tonnes used domestically and 40 lakh tonnes in ethanol production. The remaining stock will be around 69 lakh tonnes, with 57-59 lakh tonnes reserved for domestic needs for the first two and a half months of the next season.
Rice: The Food Corporation of India (FCI) has allocated 23 lakh tonnes of rice for sale to ethanol manufacturers. However, the sale is progressing slowly due to the high price of rice, which is being monitored.
Edible Oils: Domestic prices of edible oils have increased slightly but are still under control. The fluctuation in domestic prices mirrors global market trends. India imports 55-57% of its edible oil requirements, making global price trends highly influential on local markets.These insights suggest that the government is balancing domestic consumption needs and export opportunities while carefully monitoring global price movements and the demands of ethanol production.
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Source : Investing.com
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