Sugar production likely to be on a downslide in 2023-24: Industry
The overall sugar production in 2023-24 is expected to witness a downslide owing to lower rainfall, which has led to lesser sugarcane plantation this year, said the industry.
“The overall sugar production in this year is expected to be at a downslide than last year because of less rainfall which has led to lesser sugarcane plantations. However, the lower sugar production this year is not worrisome as the difference may not be huge as compared to last year, as the crushing season is ongoing and still not over,” All India Sugar Trade Association (AISTA) Chairman Praful Vithalani told Moneycontrol. AISTA estimates sugar production at 316 lakh tonnes this year as compared to 329 lakh tonnes in 2022-23.
Till February 15 in the current sugar season, the production has reached 223.68 lakh tons, against 229.37 lakh tons produced last year during the corresponding period, according to Indian Sugar Mills Association (ISMA). According to ISMA, sugar production in Maharashtra, Karnataka, Gujarat, and Tamil Nadu remained lower till February 15 of the ongoing marketing year.
The production in Maharasthra — the country’s largest producing state of sugar — was down at 7.94 million tonnes till February 15 of this marketing year, compared with 8.59 million tonnes in the year-ago period…..
For More Details Visit: https://www.moneycontrol.com/news/business/economy/sugar-production-likely-to-be-on-a-downslide-in-2023-24-industry-12305501.html/amp
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