New Delhi: The ethanol blending programme of the government to increase biofuel production by diverting sugarcane would help in lowering the surplus sugar stock in the country.
The surplus sugar in last year was at 5.2 million tonnes and in next four years the volume may drop to 0.5 mt, said Ravi Gupta, Director Shree Renuka Sugars at a Commodities Market Outlook 2022 event organised by Businessline.
He said, “In 2020-21, India had diverted 2.1 mt sugar (equivalent sugarcane) to ethanol production which would increase to 5.2 mt by 2023-24 (October-September).”
Sugar exports are likely to lower to 6 mt from 7.2 mt last year and production to 30.5 mt from 31.2 mt, he further added.
