With good rains in July, there is a chance of positive sugarcane production
Picture used for representational purpose. (Photo: PTI/File)
Hyderabad: After a slew of bitter news surrounding the below par south west monsoon in the country, finally there seems to be some sweetened optimism with a promise of positive sugarcane production.
India witnessed a sharp reduction in rainfall deficit from 41 per cent to 15 per cent in July, which has emerged as a major boost for the sugar industry.
Murugappa group chairman A. Vellayan said, “Sugarcane production in Uttar Pradesh is doubtful but Maharashtra and Karnataka will witness excess cane production. Overall I am positive that the production will hit 25 million tonnes during the harvest season that starts in October.”
Mr Vellayan also added that the current indicators are positive with rainfall deficit coming down to 15 per cent of the forecast. He welcomed Centre's move to increase the import duty which will further boost the local industry, he added.
While talking about the event wherein Coromandel International Ltd, part of the group, signed a MoU with IIM - AAAHC charitable trust on Tuesday to provide Rs 4.55 crores to educate underprivileged students.
EID Parry India, a Murugappa group company, produced 6.01 lakh tonnes of sugar last year against 4.67 lakh tons in 2012-13.
( Source : dc correspondant )
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