India Weighs Sugar Exports Amid Lower Output Forecast

5/29/2024 2:19:40 PM

(MENAFN- KNN India) New Delhi, May 29 (KNN) India, the world's biggest sugar producer after Brazil, may allow some sugar exports in the upcoming 2024-25 season after assessing the final sugarcane sowing and output data, government sources said on Wednesday.

The sources said India's sugar production in the next season starting October 2024 is estimated to drop to around 30 million tonnes, down from the current year's output of 31.8 million tonnes, due to lower cane planting in the key growing region of Karnataka.

"The industry has demanded exports of 1 million tonnes of sugar. Since we are expecting lower sugar output next year and stocks are required for ethanol production, the priority is to ensure available stock for domestic consumption as well as for ethanol," one source said, reported Hindu.

India currently has restrictions on sugar exports. The sources said the government will review the production situation after July when monsoon planting data becomes available.

The country primarily exports sugar to neighbouring nations like Bangladesh, Sri Lanka and the Middle East.

Lower sugar output could force India, which exported around 7 million tonnes in the 2022/23 season, to reconsider its export policies in the upcoming year.

(KNN Bureau)

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