• The All India Sugar Trade Association (AISTA) released its initial estimate, which predicts that India’s sugar production will likely decrease by 4% to 31.6 million tonnes (mt) for the October 2023–September 2024 season from 32.9 mt the previous season.
• The estimated production, with a variation of plus or minus 3 per cent, has not included diversion of sucrose of about 2 mt for ethanol production.
• According to the trade body, the estimated availability of sugar in the country is likely to be 37.3 mt this season, which is higher than domestic consumption estimated at 29 mt. The opening stock of sugar as on October 1, 2023 was 5.7 mt, it said adding the closing stock might be around 8.2 mt in the 2023-24 season.
• Sugar production in Uttar Pradesh, the largest sugarcane producing state, has been pegged at 11.7 mt this season, 9.3 per cent higher than 10.7 mt last season. In Maharashtra, the sugar output is set to drop 10.3 per cent to 9.6 mt from 10.7 mt and in Karnataka it may dip by 16.1 per cent to 4.7 mt from 5.6 mt.

 

 

Source-Businessline