Indian sugar mills’ debt to cane growers rises spikes, will keep rising
Per ISMA estimates, sugarcane farmers in India were owed US$2.8 billion by sugar mills at the end of January. Both mills and growers have been lobbying the state and national governments for various forms of assistance and favorable policy shifts.
The sum owed to growers could rise to US$4.8 billion by April, according to ISMA. Mills report that current sugar pricing is 10 percent and more below production costs.
India wholesale sugar price average, rupees & dollars
Source: NIC, McKeany-Flavell
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