The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) has asked the government to allow the export of 10 lakh tons of sugar during the current season. This request, made in a letter to the Food Secretary at DFPD on March 28, 2024, follows recent projections of a sugar production surplus, primarily due to favorable sugarcane yields in Maharashtra and Karnataka.
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India’s Sugar Production
Following a revision to its initial forecast of 330.5 lakh tons in January 2024, the Association now projects gross sugar production (excluding diversion) to reach 340 lakh tons. The net anticipated sugar production for the current season is 320 lakh tons, taking into account an estimated 20 lakh tons of sugar that will be diverted towards ethanol and excess stocks of B heavy/ethanol that distillers have available.
With a domestic consumption estimate of 285 lakh tons for the season and an opening stock of about 56 lakh tons as of October 1st, 2023, ISMA anticipates a sizable closing stock of 91 lakh tons as of September 30th, 2024.
The surplus is anticipated to encourage increased sugarcane cultivation throughout various regions, guaranteeing a steady supply of sugarcane, especially in light of the government's recent announcement of a significant increase of Rs. 25 per quintal in the Fair and Remunerative Price (FRP) of sugarcane for 2024–25. Furthermore, weather forecasters expect the El Nino conditions to weaken and predict a normal to above-normal South-West monsoon in India in 2024, which will result in a moderate crushing season in 2024–25 and plenty of sugar availability.
India’s 2024 Sugar Exports
Considering these developments, ISMA has urged the government to take into consideration allowing the export of 10 lakh tons of sugar during the current season. This would ensure a sufficient supply for domestic consumption and support the Ethanol Blending Program (EBP), as well as help to keep sugar mills financially liquid and enable timely payments to farmers. If you are a sugar importer wishing to import sugar in bulk or a Sugar Exporter willing to export bulk sugar, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates.
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