Even as sugar prices have been trending higher since beginning of calendar 2021 anticipating lower global surplus position for the commodity, the recent sugar production data for Brazil pointing to further contraction in countrys volumes for the season aided in further uptick in international raw sugar prices, ICRA said.
Mills have contracted to export the entire 6 million tonne sugar quota assigned by the food ministry in January this year, All India Sugar Trade Association (AISTA) said in a statement.
Read more about India s sugar exports touch 4.25 mn tonnes so far this year: AISTA on Business Standard. Sugar mills in India have exported 4.25 million tonnes of the sweetener so far in the ongoing 2020-21 marketing year ending September, with maximum shipments to Indonesia, trade body AISTA said
Sugar production up 13 pc to 305.68 lakh tonnes during Oct 20 - May 21
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Last Updated: Jun 01, 2021, 05:39 PM IST
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Synopsis Sugar mills across the country have produced 305.68 lakh tonnes of sugar between October 1, 2020 and May 31, 2021, the Indian Sugar Mills Association (ISMA) said in a statement. Sugar production stood at 270.05 lakh tonnes in the year-ago period.
India s sugar production rose by 13 per cent to 305.68 lakh tonnes in the first eight months of the current marketing year ending September, mainly due to higher output in Maharashtra, according to trade data. Sugar marketing year runs from October to September. Sugar mills across the country have produced 305.68 lakh tonnes of sugar between October 1, 2020 and May 31, 2021, the Indian Sugar Mills Association (ISMA) said in a statement.
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This gain in export momentum will also help millers settle farmers’ cane arrears, which crossed Rs 23,000 crore till February, said officials.
(Representative image)
Indian sugar companies have contracted more than 83% of the export target of 6 million tonnes for the ongoing 2020-21 sugar season, said the Union food ministry.
The surge in exports is mainly due to firm global prices and export subsidy, which has made exports lucrative.
This gain in export momentum will also help millers settle farmers’ cane arrears, which crossed Rs 23,000 crore till February, said officials.
Domestic sales are also looking steady despite increasing cases of Covid-19 and lockdown in some parts of the country. “So far there is no impact on demand for the sweetener. A seven to 10-day-long lockdown can hardly impact the industry. The demand this year in March was almost 20% more than last year in March. We have not seen any drop in consumption in April yet,” said Abinash Verma, d