Sugar exports are estimated to increase to over 90 lakh tonnes in the current marketing year ending September, from 71-72 lakh tonnes in the previous year, on better demand for the Indian sweetener from Bangladesh and Indonesia, according to industry body ISMA. The sugar marketing year runs from October to September.
"As per market reports and port information, around 80 lakh tonnes of sugar export have been contracted so far. Out of that, about 57.17 lakh tonnes of sugar have been physically exported out of the country during October 2021-March 2022 period, as compared to about 31.85 lakh tonnes exported in the last sugar year during the same period," Indian Sugar Mills Association (ISMA) said in a statement.
About 7-8 lakh tonnes of sugar is in pipeline for export in April 2022.
"In the current year, major export destinations are Indonesia and Bangladesh, accounting for almost 44 per cent of total exports, as against 48 per cent shared collectively by Indonesia and Afghanistan last year during the corresponding period," the association said.
ISMA said it has revised its production estimate to 350 lakh tonnes for the 2021-22 marketing year. It also revised its export estimates to over 90 lakh tonnes.
"Considering the above and domestic consumption of 272 lakh tonnes, there will be a closing balance of 68 lakh tonnes at the end of the sugar season on 30th September 2022," it added.
Recently, Food Secretary Sudhanshu Pandey had said that India's sugar exports are expected to cross 80 lakh tonnes in the ongoing 2021-22 marketing year ending September, surpassing the previous year's level. During the 2020-21 marketing year, the country exported a record 72.3 lakh tonnes of sweetener.
On the production side, ISMA said that mills have produced 329.91 lakh tonnes of sugar till April 15 in the current 2021-22 marketing year against 291.82 lakh tonnes in the year-ago period.
In Maharashtra, sugar production till April 15 was 126.48 lakh tonnes compared to 103.95 lakh tonnes in the corresponding period of the previous marketing year. Sugar production in Uttar Pradesh declined to 94.41 lakh tonnes from 100.86 lakh tonnes during the period under review.
Source Name:- Economics Times