Finance

Sugar Export information: Sugar exports could leap to 90 lakh tonnes in 2021-22: ISMA

Sugar exports are estimated to extend to over 90 lakh tonnes within the present advertising and marketing yr ending September, from 71-72 lakh tonnes within the earlier yr, on higher demand for the Indian sweetener from Bangladesh and Indonesia, in line with business physique ISMA. The sugar advertising and marketing yr runs from October to September.

“As per market studies and port data, round 80 lakh tonnes of sugar export have been contracted to this point. Out of that, about 57.17 lakh tonnes of sugar have been bodily exported in another country throughout October 2021-March 2022 interval, as in comparison with about 31.85 lakh tonnes exported within the final sugar yr throughout the identical interval,” Indian Sugar Mills Affiliation (ISMA) stated in an announcement.

About 7-8 lakh tonnes of sugar is in pipeline for export in April 2022.

“Within the present yr, main export locations are Indonesia and Bangladesh, accounting for nearly 44 per cent of complete exports, as in opposition to 48 per cent shared collectively by Indonesia and Afghanistan final yr throughout the corresponding interval,” the affiliation stated.

ISMA stated it has revised its manufacturing estimate to 350 lakh tonnes for the 2021-22 advertising and marketing yr. It additionally revised its export estimates to over 90 lakh tonnes.

“Contemplating the above and home consumption of 272 lakh tonnes, there shall be a closing stability of 68 lakh tonnes on the finish of the sugar season on thirtieth September 2022,” it added.

Lately, Meals Secretary Sudhanshu Pandey had stated that India‘s sugar exports are anticipated to cross 80 lakh tonnes within the ongoing 2021-22 advertising and marketing yr ending September, surpassing the earlier yr’s degree. Throughout the 2020-21 advertising and marketing yr, the nation exported a document 72.3 lakh tonnes of sweetener.

On the manufacturing aspect, ISMA stated that mills have produced 329.91 lakh tonnes of sugar until April 15 within the present 2021-22 advertising and marketing yr in opposition to 291.82 lakh tonnes within the year-ago interval.

In Maharashtra, sugar manufacturing until April 15 was 126.48 lakh tonnes in comparison with 103.95 lakh tonnes within the corresponding interval of the earlier advertising and marketing yr. Sugar manufacturing in Uttar Pradesh declined to 94.41 lakh tonnes from 100.86 lakh tonnes throughout the interval underneath assessment.

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