Sugar demand seems to be picking up on a month-on-month basis. Festival as well as bulk buying seems to be supporting the sugar prices.

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Vivek Saraogi, MD of Balrampur Chini discussed his near-term outlook for the sector.

Consumption has been higher by 2 percent over last year and the demand continues to decent, he said in an interview with CNBC-TV18.

“We would definitely export a very healthy quantity. Our ethanol quantities will increase, the tender is on, so the figures we will talk after the tender,” he said.

Speaking about prices, he mentioned, “I remain positive on MSPs. Prices are at about Rs 32.50 per kilogram right now and without the MSP this price seems to be a decent price. If the MSP comes, the prices will head upwards,” he explained.

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(Edited by : Abhishek Jha)