India's sugar production may fall to 32.8 million tonnes: Trade body

Published 2023년 4월 26일

Tridge summary

India's sugar production for the 2022-2023 marketing year is projected to decrease by 3.5% to 32.8 million tonnes due to inconsistent weather conditions impacting cane production in major states. This could potentially limit sugar shipments from the world's second-largest exporter, possibly raising global prices and allowing Brazil and Thailand to increase their exports. Despite the decrease in production, India has enough domestic supply to meet local consumption of 27.5 million tonnes. The country's sugar exports are currently limited to 6.1 million tonnes, but there are expectations for a second tranche of shipments.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By Rajendra Jadhav MUMBAI (Reuters) - India is expected to produce 32.8 million tonnes of sugar in the 2022-2023 marketing year, down 3.5% from the previous forecast, as cane production in major producing states fell due to erratic weather conditions, a top trade body said on Wednesday. Lower sugar output could limit shipments from the world's second-biggest exporter, pushing up global prices and allowing rivals Brazil and Thailand to increase their exports. “The rains were erratic. The sugarcane crop didn't get much rain during the growing season and it fell too much when it wasn't needed,” said Aditya Jhunjhunwala, president of the Indian Sugar Mills Association (ISMA). In January, the trade body expected India to produce 34 million tonnes in the current season, which ended Sept. 30, after harvesting a record 35.8 million tonnes in the previous season. At the beginning of the season, in October 2022, ISMA's projection was for a production of 36.5 million tons. Reuters was the ...

Source: Mixvale