India's sugar demand surges in heat wave and election season
==========

India's sugar consumption is expected to rise to 7.5 million tons, up 5% from last year, due to heat waves and election rallies boosting the consumption of ice cream and soft drinks. The higher demand is expected to lift total consumption this year to a record 29 million metric tons. The rise in consumption is temporary, with demand growth returning to a normal pace next year. The increased demand will lift local prices and boost margins for sugar producers such as Balrampur Chini, Shree Renuka Sugars, Bajaj Hindusthan, and Dwarikesh Sugar, helping them make cane payments on time to farmers. Maximum temperatures in many parts of India have risen above 40 degrees Celsius, and the weather department has forecasted that the country is likely to experience more heat-wave days than normal between April and June. India is currently hosting the world's largest election, in which nearly a billion people are eligible to vote. Political parties are holding large rallies, some attended by as many as 200,000 people, despite the sweltering heat. The rise in sugar consumption has already begun lifting sugar prices, which have risen nearly 3% in a fortnight. The government has allocated a higher quota for April compared to last year, but prices are still rising due to robust demand from bulk consumers.

#Sugar #Demand #HeatWave #ElectionSeason #Consumption #Prices #Producers #Farmers #Temperature #Elections

https://m.economictimes.com/news/economy/agriculture/indias-sugar-demand-surges-in-heat-wave-and-election-season/articleshow/109525665.cms