Agriculture & Allied Industries

Sugar production at 20 lakh tonnes this season: ISMA

Representational photo

Representational photo
| Photo Credit: REUTERS

Sugar production in the current season (October 2022 to September 2023) till November 15 stands at 19.9 lakh tonnes, according to the Indian Sugar Mills’ Association (ISMA).

This is slightly lower than the 20.8 lakh tonnes produced last year as several mills in the western States are said to have begun production belatedly this season.

ISMA had estimated the total production this season at 365 lakh tonnes after diversion of 45 lakh tonnes for ethanol.

According to data available from ports, contracts had been entered for exports of about 35 lakh tonnes of sugar so far. Of this, about two lakh tonnes had been shipped last month.

ISMA said that several traders had entered into export contracts for the 2022-2023 season before the Centre announced the export policy. Since then, there had been an upward trend in international prices of sugar and sugar mills are re-negotiating export contract prices.

Source link