The COVID-19 pandemic encouraged people in India to stay at home and experiment in the kitchen. This led to an increase in retail sales of baking and other kitchen essentials such as sugar and sweeteners.
The Indian sugar industry plays a pivotal role in the global sugar market. With India being the second largest producer of sugar in the world (after Brazil), sugar production is considered to be one of the important socioeconomic contributors to Indian society.
As India consumers become more health conscious, they have started looking for alternative sweeteners to sugar such as jaggery, honey and other artificial sweeteners. These products have especially gained traction among people with high levels of tooth decay and those who are trying to lose weight.
The government has fixed a fair and remunerative price (FRP) based on recommendation from the Commission on Agricultural Costs and Prices, in order to fairly remunerate farmers for their crops as compared to other competing crops. The farmers’ livelihoods are further secured by the mills which are mandated to purchase crops from farmers within a specific radius.
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This report originates from Passport, our Sugar and Sweeteners research and analysis database.
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