Panic buying led to sugar price rise, India will have 35 lakh ton stock: ISMA DG

The recent sugar price rise was caused by panic buying and has no connection to ethanol, Director General of Indian Sugar Mills Association (ISMA) Deepak Ballani said. He added that India will close the marketing season with 35 lakh tons of sugar. "There was a perception given that there could be some tightness, which led to...speculative buying," Ballani further said.