Sugar production estimated to be 350 lakh tonnes

Business


Sugar production this season, which will end in September, is estimated to be 350 lakh tonnes, after taking into consideration 34 lakh tonnes of sugar equivalent for ethanol production.

A press release from the Indian Sugar Mills Association (ISMA) said the production till March 31, 2022 since October 1 last year was 310 lakh tones and sugar mills in Maharashtra and Karnataka continued to crush cane. About a month ago, the association had estimated sugar production in Maharashtra and Karnataka at 126 lakh tonnes and 55 lakh tonnes respectively. It has now revised the estimates to 134 lakh tonnes and 62 lakh tonnes, after diversion for ethanol.

“The higher sugar production [in the country] is due to a significantly higher yield per hectare as also higher sugar recovery,” the association said.

On the export front, it was reported that contracts had been entered into for nearly 74 lakh tonnes. More than 57 lakh tonnes were exported till the end of March 2022. There were reports that international trade houses had indicated that the global market expected more than 85 lakh tonnes of sugar exports from India. ISMA said India would export more than 90 lakh tonnes of sugar in the current season (October 2021 to September 2022).

With 82 lakh tonnes of opening stock on October 1 last year, domestic consumption of 272 lakh tonnes in the current season, and exports of 90 lakh tonnes, the closing stock this season was estimated to be 68 lakh tonnes, ISMA added.



Source link

Leave a Reply

Your email address will not be published.