Sugar exports from India, the world’s largest producer and second largest exporter of the sweetener, touched a file 8.6 million tonne until May of the continuing 2021-22 advertising and marketing 12 months ending September, mentioned the most recent information launched by business physique ISMA on Wednesday.
The nation had exported complete 7 million tonne of sugar within the 2020-21 advertising and marketing 12 months, whereas home manufacturing stood at 31.19 million tonne in the identical interval.
Last month, the federal government capped sugar exports at 10 million tonne to make sure sufficient home provide and verify retail costs throughout pageant season in October-November. However, cooperatives have demanded elevating the export cap by 1 million tonne.
According to Indian Sugar Mills Association (ISMA), it’s reported that round 9.4-9.5 million tonne of export contracts have already been entered into to date. Out of that, about 8.6 million tonne is reported to have been bodily exported until finish of May 2022.
About 16 million tonne of sugar is estimated to have been bought within the home market in the course of the October-April interval of the present advertising and marketing 12 months, increased by 7,50,000 tonne from 15.26 million tonne within the year-ago interval.
Further, home sugar gross sales quota launched by the federal government as much as June is increased by 5,50,000 tonne as towards corresponding interval final 12 months.
Considering this, ISMA estimates home sugar consumption within the present advertising and marketing 12 months to be at 27.5 million tonne, as towards 26.55 million tonne within the earlier 12 months.
According to ISMA, home sugar manufacturing has reached 35.23 million tonne until June 6 of the continuing advertising and marketing 12 months, as towards 30.74 million tonne within the year-ago interval.
“Since special season is in progress in Tamil Nadu and Karnataka and cane availability in these states is good for the remaining period up to end of current season, another about 6,00,000 tonne of sugar is expected to be produced collectively by these states,” ISMA mentioned.
Accordingly, ISMA has revised its all-India sugar manufacturing estimate for 2021-22 advertising and marketing 12 months to 36 million tonne after contemplating diversion of three.4 million tonne for ethanol.
The closing inventory on the finish of September is estimated to be round 6.7 million tonne which might be adequate for 3 months of home consumption, it added.
Source: www.financialexpress.com”