New Delhi, April 19 -- Driven by steady growth in sugarcane production and the government's successful ethanol blending program the outlook for the Indian sugar sector remains positive, according to All India Sugar Trade Association (AISTA).
In an interview with businessline, Vice Chairman of AISTA Ravi Gupta highlighted that sugarcane production has increased at a compound annual growth rate (CAGR) of 3.5 per cent over the past two years, while sugarcane prices have risen by 5 per cent CAGR, benefiting farmers.
Notably, the government's ethanol blending initiative has transformed surplus sugar into ethanol, with a blending rate of 12 per cent already achieved in the current 2022-23 ethanol supply year (ESY). Gupta believes this shift t...