Sugar production is estimated at 350 lakh tons

Business

Sugar production this season ending in September is estimated at 350 lakh tons after accounting for 34 lakh tons of sugar equivalent for ethanol production.

A press release from the Indian Sugar Mills Association (ISMA) says production as of March 31, 2022 was 310 lakh tons since October 1 last year and sugar mills in Maharashtra and Karnataka continued to crush sugar cane. About a month ago, the association had estimated sugar production in Maharashtra and Karnataka at 126 lakh tons and 55 lakh tons, respectively. It has now revised 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 and a higher sugar yield,” according to the association.

On the export front, contracts for almost 74 lakh tonnes were reported to have been secured. More than 57 lakh tons were exported by the end of March 2022. There were reports that international trading houses indicated that the world market expected more than 85 lakh tonnes of sugar exports from India. ISMA said India will export more than 90 lakh tons of sugar in the current season (October 2021 to September 2022).

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

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