'Ethanol diversion not behind sugar price rise': ISMA DG Deepak Ballani dispels doubts

New Delhi: On sugar price rise, Deepak Ballani, Director General, Indian Sugar Mills Association (ISMA) said, "This price rise in the last 15-20 days is because of the speculative buying, the panic buying. There are absolutely no problems with the physical sugar availability in the country. We will close the season with almost 35 lakh tons of sugar. There was a perception given that there could be some tightness, which led to panic buying, speculative buying by a section of the ecosystem, and the market, which I believe was unfounded. The government has also assured the country that we have sufficient sugar in stock, so there is absolutely no reason for any price increase. We have sufficient stock in the country, and I don't think that the price increase is natural."