India’s sugar output down 1% so far this season

Published 2023년 3월 17일

Tridge summary

Indian sugar mills have produced 28.2 million tonnes of sugar since the current season began, marking a 1% decrease from the previous year. This reduction in production is expected to result in a scarcity for additional exports, as the government has only allowed 6.1 million tonnes of sugar to be exported for the 2022-23 season. The lack of exports could increase global prices, allowing Brazil and Thailand to increase their shipments. Unfavourable weather conditions in Maharashtra, the country's largest sugar cane producing state, have contributed to a decrease in crop yields and the closure of 194 mills so far this season.

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

Original content

Indian mills have produced 28.2 million tonnes of sugar since the current season began on Oct. 1, down 1% year on year, the Indian Sugar Mills Association said on Friday. Lower sugar output from India, the world’s biggest producer of the sweetener, will leave hardly any surplus for additional exports during the current 20022-23 season. The government allowed mills to export only 6.1 million tonnes of sugar in the 2022-23 season, but Prime Minister Narendra Modi’s administration was expected to allow a second tranche of shipments. Dampening speculation that India would permit the second tranche, government sources in mid-January said India was not looking at allowing more sugar exports. India’s absence from the market could lift global prices and allow rivals Brazil and Thailand to increase shipments. India exported a record 11.2 million tonnes of sugar in the previous 2021-22 season. The Indian Sugar Mills Association in late January cut its 2022-23 output estimates by 7% to 34 ...

Source: Hellenic Shipping News