Triveni Engineering’s sugar crushing to touch 4 lakh tonnes

Triveni Engineering’s sugar crushing to touch 4 lakh tonnes

New Delhi: Sugar major Triveni Engineering & Industries on Monday said in the ongoing season that the company will crush 14% more sugarcane at 4 lakh tonne compared to last year.

The company had crushed 3.5 lakh tonnes of sugar in the last sugar season, which starts from October.

“We will soon start crushing sugarcane this season. We expect to crush four lakh tonnes of sugarcane compared with 3.5 lakh tonnes in the last season," Triveni Engineering & Industries chairman and managing director Dhruv M. Sawhney said on the sidelines of the India Economic Summit.

He said that sugar prices are expected to remain stable as the country has enough supply for the next six to eight months although more imports are likely.

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“It is expected that India will import 1-2 million tonnes of sugar between April and September next year," he said.

At present, raw sugar imports are unlikely as the global prices have increased to $560 per tonnes and not much margins can be made in the retail market after refining it.

Asked about the company’s retail business, Sawhney said that the firm is still evaluating its options as to how to go about in the future.

“We are currently focusing on the engineering division. As far as the retail division is concerned, we are not putting in much of our resources. We are evaluating various options, including partnerships for the retail venture," Sawhney said.