Sugar demand falters in peak season due to virus curbs

India’s sugar consumption throughout the peak demand season is about to fall for a second straight 12 months after numerous States imposed restrictions, together with restaurant and store closures to halt rising instances of COVID-19, business officers instructed Reuters.Decrease demand might improve inventories in India, the world’s greatest shopper of the sweetener, and will put downward stress on native costs. Decrease home gross sales might drive mills to export extra sugar within the subsequent advertising 12 months, placing stress on international costs as effectively.“The second wave of coronavirus has been disrupting the market throughout the peak demand season. Purchases by bulk consumers have been falling,” Praful Vithalani, president of All India Sugar Commerce Affiliation (AISTA), instructed Reuters.Consumption of chilly drinks and ice cream, and in consequence, demand for sugar, rises in India throughout the summer time months that run roughly from March to June. Sugar demand, which often rises by greater than 1% annually, fell zero.eight% in 2019-20 to 25.three million tonnes due to one of many world’s strictest lockdowns imposed final 12 months in March.Demand from bulk customers had recovered to regular ranges by the top of 2020 however began falling once more this month on account of uncertainty over coronavirus-led lockdowns, mentioned Ashok Jain, president of the Bombay Sugar Retailers Affiliation.

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