Indian Sugar & Bio-Energy Manufacturers Association (ISMA) says it expects retail prices of sugar to come down in the coming days as speculative stocking eases. The industry body said the recent price rise was driven mainly by speculative stocking and lower production due to weather-related issues.
ISMA President Niraj Shirgaokar said the recent rally in sugar prices was not supported by fundamentals, with speculation and hoarding contributing to the increase. ISMA said it sees no sugar shortage in the country.
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