Sugar exports have risen by 64 per cent to 71 lakh tonnes throughout October 2021-April 2022 interval on higher demand for the Indian sweetener in international markets, in line with trade physique ISMA.
In a press release, Indian Sugar Mills Association (ISMA) mentioned that 43.19 lakh tonnes of sugar was exported in the course of the corresponding interval of the final 12 months.
“As per port information and market reports, over 85 lakh tonnes of contracts for export of sugar have already been entered into so far. Out of this, around 71 lakh tonnes of sugar have been physically exported out of the country till end of April 2022,” ISMA mentioned in a press release.
Another 8-10 lakh tonnes of sugar is in pipeline to be bodily exported in May 2022.
ISMA mentioned it expects over 90 lakh tonnes of export within the present 2021-22 advertising 12 months, as in opposition to 71.91 lakh tonnes exported within the earlier 12 months.
Sugar manufacturing rose by 14 per cent to 348.83 lakh tonnes until May 15 of the present advertising 12 months that began in October 2021, on greater sugarcane manufacturing, in line with ISMA.
Sugar manufacturing stood at 304.77 lakh tonnes within the year-ago interval.
The sugar advertising 12 months runs from October to September.
“The net sugar production without diversion into ethanol is higher by 58.07 lakh tonnes as compared to last year. However, in terms of actual sugar produced after considering diversion for production of ethanol, the difference in sugar production is about 44.06 lakh tonnes,” ISMA mentioned.
Total gross sales in April, 2022 has been estimated as 23.91 lakh tonnes.
“Total sales in the current season up to April, 2022 are estimated at 160.05 lakh tonnes as against 152.61 lakh tonnes during the same period last year,” the assertion mentioned.
Source: www.financialexpress.com”