India's sugar production may be lower than expected due to early ripening of sugarcane

Lower sugar production could prevent the world's second-largest sugar exporter from exporting more, while potentially supporting world sugar prices and helping competitors Brazil and Thailand boost exports. India has estimated sugar production for the 2022/23 season (ending September 30) to be around 34-34.3 million tonnes, down from 35.8 million tonnes in the previous crop year. However, sugarcane output in the top producing state Maharashtra and the third largest producing state Karnataka both fell due to the early arrival of the harvest. Mauro Virgino, a senior manager at the world's largest sugar trading company Alvean, estimated India's sugar output at only 33.5 million tons, even falling below 33 million tons, causing concern in the market. on the global supply of sugar. The above estimate was made after Alvean conducted two large-scale surveys. Another trading company also lowered its production estimate to 32.4 million tons, predicting sugar production in Maharashtra ...