India's Maharashtra state to produce less sugar as mills close early

Published 2023년 3월 27일

Tridge summary

Maharashtra, India's leading sugar-producing state, is projected to see a significant decrease in sugar output by nearly 16%, resulting in a production estimate of 10.7 to 10.8 million tonnes for the 2022/23 marketing year, marking a decrease from the initial forecast of 12.8 million tonnes. This reduction is primarily due to sugar mills closing early because of a limited sugar cane supply. Consequently, India may not authorize additional exports, potentially impacting global prices and permitting Brazil and Thailand to raise their export volumes. The decrease in production could also be influenced by the early closure of a significant number of sugar mills.

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

Original content

India's top sugar-producing state, Maharashtra, could churn out nearly 16% less sugar than the previously estimated as mills are closing early due to limited availability of sugar cane, a senior state government official told Reuters on Monday. Lower sugar output could prevent the world's second-biggest exporter from allowing additional exports, potentially supporting global prices and allowing rivals Brazil and Thailand to increase exports. The western state of Maharashtra, which accounts for more than a third of India's sugar output, could produce 10.7 to 10.8 million tonnes in the 2022/23 marketing year that began on Oct. 1, down from an earlier forecast of 12.8 million tonnes, Maharashtra's sugar commissioner Shekhar Gaikwad said. Mills are closing at a rapid pace. Almost all mills will close by this month end. Only a handful will be operational in the first week of April, Gaikwad said. Sugar mills in Maharashtra were operational till mid-June in 2021/22 as they harvested a ...

Source: Economic times