News coming out that unseasonal rains, both current as well as forecast, are likely to delay the start of crushing operations by sugar mills in the 2009-10 season (October-September). That could lead to a precarious sugar supply position in November, exacerbated by the Centre’s move to release most of the stocks lying with mills during the current month itself.
The recent heavy rains in Andhra Pradesh, Karnataka and Maharashtra are reported to have submerged large cane growing areas in these States.
Result: Prices for sugar may shootup further
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