Over half of India faces sugar crunch despite stock carryover, bumper crop

Over half of India currently faces sugar deficit despite existence of huge carryover stocks from the previous year and bumper output in some states including Uttar Pradesh and Maharashtra. Deficient monsoon rain so far has threatened recovery in sugar production this season, the second year in a row, pushing sugar prices to a three-month high in the past few weeks. Industry sources said 14 states and Union Territories with a huge sugar consumption base are currently facing supply shortage due to low output last year. These include major consumers such as West Bengal, Rajasthan, and Bihar to name a few. Despite growing consumption, a number of these states do not produce sugar at all. Future & Option Trading Tips