INDIA: ISMA sees sugar production rising 24% to 25.1 million tonnes
Published: 09/07/2017, 9:29:18 AM
India's sugar production is estimated to rise 24% to 25.1 million tonnes in the next marketing year starting October on higher sugarcane area, says industry body ISMA, according to India's Financial Express newspaper.
Sugar production of India, the world's second largest producer after Brazil, is estimated at 20.2 million tonnes in the ongoing 2016/17 marketing year (October-September). The production is expected to rise in 2017/18 on the back of higher cane area because of good monsoon.
Sugar production is estimated at 25.1 million tonnes in 2017/18 as against 20.2 million tonnes in the current year, an ISMA spokesperson said. The government had allowed duty free import of 500,000 tonnes of sugar in April-May this year to boost domestic supply.
It is planning to allow more imports to check prices during upcoming festive season. India's sugar demand is 24-25 million tonnes annually.