India – Sugar industry losses may increase 60% in 2013/14

The Indian sugar industry’s losses are set to rise 60% in the 2013/14 (Oct/Sep) crushing season owing to a widening disparity between production costs and sugar prices, local press reports said.

According to an estimate by rating agency CRISIL, the sugar industry may record a loss of INR16.0 bln ($1=INR58.48) in the coming crushing season, against an estimated INR10 bln loss in the current season.

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