Sugar manufacturing within the first 45 days of the present season (October 2022 to September 2023) is a tad decrease at 19.9 lakh tonnes (lt), towards 20.8 lt throughout the identical interval a yr in the past.
The India Sugar Mills Affiliation (ISMA) mentioned in a press launch that a number of mills within the West began operations late this season, resulting in barely decrease output as of November 15.
ISMA added that as per port data and market reviews, about 35 lakh tonnes of contracts for sugar export have been signed thus far. Of this, about 2 lakh tonnes of sugar have been bodily exported in Octobe, as in comparison with about 4 lakh tonnes within the corresponding month final yr.
“A number of merchants entered in export contracts for the 2022-23 season, a lot earlier than the export coverage introduced by the federal government — that’s,earlier than November 5, 2022. Since then, there was upward pattern in worldwide costs of sugar, on account of which sugar mills are renegotiating export contract costs,” the ISMA launch mentioned.