The government allowed mills to export only 6.1 million tonnes of sugar in the 2022\/23 season, but Prime Minister Narendra Modi’s administration was expected to allow a second tranche of shipments. India’s absence from the market could lift global sugar prices, which were trading near their highest level in more than a decade, and allow rivals Brazil and Thailand to increase shipments.<\/p>\n\n\n\n
Indian mills produced 31.1 million tonnes of sugar since the current season began on Oct. 1, a fall of 5.4% year on year, as many mills closed early due to limited availability of sugar cane, a leading trade body said on Tuesday.<\/p>\n\n\n\n
Lower sugar output from India, the world’s biggest producer of sweeteners, will leave hardly any surplus for additional exports during the current 2022\/23 season.<\/p>\n\n\n\n
Out of 532 mills that started operations in the current season, 400 mills closed operations, including all mills from the top-producing western state of Maharashtra, the Indian Sugar Mills Association said in a statement.<\/p>\n\n\n\n
Maharashtra’s production fell to 10.5 million tonnes from 13.7 million tonnes produced a year ago, the association said.<\/p>\n\n\n\n
Reuters was the first to report in December on the likely drop in production.<\/p>\n\n\n\n
“The production drop in Maharashtra pulled down the country’s total production. There is no scope for additional exports,” said a Mumbai-based dealer with a global trade house.<\/p>\n\n\n\n
The government allowed mills to export only 6.1 million tonnes of sugar in the 2022\/23 season, but Prime Minister Narendra Modi’s administration was expected to allow a second tranche of shipments.<\/p>\n\n\n\n
India exported a record 11.2 million tonnes of sugar in the previous 2021\/22 season.<\/p>\n\n\n\n
India mainly exports sugar to Indonesia, Bangladesh, Malaysia, Sudan, Somalia, and the United Arab Emirates.<\/p>\n\n\n\n
The ISMA in late January cut its 2022\/23 output estimates for the country by 7% to 34 million tonnes from the previous forecast of 36.5 million tonnes. Last year, Indian mills produced a record 35.8 million tonnes of sugar.<\/p>\n\n\n\n
But the dealer said the production could fall to around 33 million tonnes and support local prices, which are rising due to peak summer season demand.<\/p>\n\n\n\n
Read more at-https:\/\/bit.ly\/3on8Gp9<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The government allowed mills to export only 6.1 million tonnes of sugar in the 2022\/23 season, but Prime Minister Narendra Modi’s administration was expected to allow a second tranche of shipments. India’s absence from the market could lift global sugar prices, which were trading near their highest level in more than a decade, and allow 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