India’s sugar industry off to a slow start, Oct-Nov output falls
India’s sugar production since October 1 has reached 2.79 million metric tons, marking a 35.4% decrease compared to last year. Delays in crushing operations in Maharashtra and Karnataka contributed to this decline, although production is expected to increase soon. Maharashtra’s output dropped by 66%, while Karnataka saw a 36% decrease. Uttar Pradesh’s production saw a smaller decline of 1%. The country may produce 28 million tons of sugar in the 2024/25 season, down from 31.9 million tons last year. This lower output could prevent India from allocating export quotas, potentially supporting global prices.
MUMBAI, Dec 2 (Reuters) – Indian mills have produced 2.79 million metric tons of sugar since the current season began on Oct. 1, down 35.4% year on year, as mills in two key states started operations later than usual, a leading industry body said on Monday.
Lower sugar production could lead the world’s second-largest producer to refrain from allocating export quotas and support global prices , .
The start of sugar cane crushing in the western state of Maharashtra and neighbouring Karnataka was delayed, but soon crushing will pick up momentum, said Prakash Naiknavare, managing director of the National Federation of Cooperative Sugar Factories Ltd (NFCSF).
Maharashtra’s production in the first two months of the new season fell 66% from a year ago to 460,000 tons, while Karnataka’s output dropped 36% to 700,000 tons, the industry body said.
Mills in the northern state of Uttar Pradesh have produced 1.29 million tons, down 1 % from a year ago.
By the end of November, 381 sugar mills in the country had started crushing operations, compared to 433 during the same period a year ago, Naiknavare said.
India could produce 28 million tons of sugar in 2024/25, down from 31.9 million tons produced a year ago, estimates NFCSF.
To read more about Sugar Industry continue reading Agriinsite.com
Source : Reuters
Recommended for you
Leave a Reply
Leave a Reply
