Too much sugar and not enough ethanol production capacity to make a difference with the overwhelming sugar glut is not the best way to start a new season.
Despite an increasing diversion to ethanol, India’s sugar glut is not going away anytime soon amid depressed prices and near stagnant demand for the sweetener. Most sugar analysts opine that India’s sugar output will be in the 31.5-33.5 million tonne range in the current season, assuming an ethanol diversion of 1.5 million tonnes. With a
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