No change in sugar prices in next 6-8 months: Bajaj Hindustan

Allahabad High Court has adjourned sugar case hearing to November 18. Kushagra Nayan Bajaj, CEO, Bajaj Hindusthan, said FY09 sugar production will suffer unless the Uttar Pradesh cane price issue is resolved. "Delays in production due to pricing issues may adversely affect sugar production. The sugar industry in UP is in a crisis and may head into to a bigger crisis if issues related to cane pricing are not sorted out soon."

According to him, going to the Supreme Court will not solve problems as it will lead to delays in production. "We will approach SC in case of no positive order from the Allahabad High Court."

He said ISMA expects the industry to produce 18.5 million tonne of sugar this year. He believes a fall in crude prices can further prevent a rise in sugar prices. "I don’t see sugar prices going up dramatically in the next six-eight months."
source:moneycontrol