Industry body ISMA on Tuesday projected a 9 per cent fall in gross sugar production at 337 lakh tonnes for the current marketing year starting this month but asserted the output will be enough to meet domestic demand.
ISMA predicts 9% decrease in sugar production for 2023-24, says it's enough to meet local demand. Industry body ISMA projects a 9 percent fall in gross sugar production at 337 lakh tonnes for the current marketing year starting this month but asserted the output will be enough to meet domestic demand.
Industry body ISMA on Tuesday projected a 9 per cent fall in gross sugar production at 337 lakh tonnes for the current marketing year starting this month but asserted the output will be enough to meet domestic demand.
It has not estimated the diversion of sugar for ethanol production.
"Gross sugar production for the 2023-24 sugar season has been estimated at around 337 lakh tonnes," Indian Sugar Mills Association (ISMA) said in a statement.
The sugar marketing year runs from October to September.
In August, ISMA had estimated gross sugar production at 369 lakh tonnes, while the net sugar output was projected at 328 lakh tonnes after a diversion of 41 lakh tonnes for ethanol.
"With India's domestic consumption average of 278.5 lac tons, the production estimates assure sufficient sugar for domestic consumption," ISMA said.
ISMA said that the diversion of sugar towards ethanol would be estimated only after the declaration of feed stock-wise ethanol procurement price for the 2023-24 ethanol supply year starting in December.
The total acreage under sugarcane in the country is estimated to be around 57 lakh hectares in 2023-24, the association said.
India exported 61 lakh tonnes of exports during the 2022-23 marketing year as against a record 112 lakh tonnes in the previous year.
The government has not yet allowed exports for this marketing year.