India: Sugar crisis continues despite expected output increase

Indian sugar prices are trending lower ahead of the start of the cane pressing season, which is expected to take place in the next few days, as ex-factory prices have dropped from Rs 145/kg to Rs 100/kg in the country's two biggest markets. are Karachi and Lahore. The sharp drop in sugar prices is partly due to the government cracking down on sugar producers and traders to discourage hoarding of this item. In the 2021/11 crop year, India's sugar production is estimated at 6.5-6.6 million tons, the highest ever compared to consumption of less than 6 million tons, while Pakistan's output is at 6,500 tons. 8 million tons. According to official data, India's sugarcane production in the marketing year 2021/22 is estimated at 87.67 million tonnes, up 8% year-on-year and 4.8% higher than the previous estimate of 83 million tonnes. Punjab is the largest sugarcane producing province in terms of area and output. This province is seeing a spike in sugarcane production by 12.2%. According ...