New Delhi, June 22 (KNN) In order to curb sugar price hike, Centre today said that there is more than enough sugar in the country to meet the domestic requirement. Even in coming sugar season 2016-17, there would be no shortage of domestically produced sugar in India.

Government last week imposed 20 per cent customs duty on sugar exports to boost domestic supply and check prices which are ruling high at Rs 40/kg.

During the current Sugar Season 2015-16, India had started with a carryover stock of 9 million MT of sugar. The production of sugar has been estimated at about 25.1 million MT in the current sugar season while demand about 25.5 million MT. Exports being low, the stock position at the close of the current sugar season (Sept. 2016) will stand at 7 million MT which will be carried forward for the next sugar season 2016-17, said a Government release.

Thus with the closing stock of about 7-7.5 million tonnes, and the estimated production of about 23 - 24 million tonnes, during 2016-17, the total availability of sugar during 2016-17 season will be over 31 million tonnes, against the domestic demand of about 26 million tonnes.

The government has taken necessary steps to maintain sufficient stocks in the country. It has imposed 20 % duty on export of sugar and has empowered state governments to impose stockholding limits on traders to ensure availability of sugar at reasonable prices. (KNN Bureau with PIB inputs)