20-Indian Government Unlikely To Allow Sugar Exports Till March 2024

1. Indian Government Unlikely To Allow Sugar Exports Till March 2024 Indian Government Unlikely To Allow Sugar Exports Till March 2024 The government declared on 4th August that the level of sugar production in the upcoming season, which begins on October 1, is unlikely to decrease. Because exports are still prohibited, there will be a greater supply on the domestic market, which will help keep prices in check during the festival season. An inter-ministerial group, however, will probably recommend revised ethanol prices for the upcoming season in a month to address the anticipated higher availability of sugarcane the following year, which may increase diversion towards ethanol. India's Production Of Sugar India's Production Of Sugar The Government's assertion that the production of sugar is unlikely to decline comes two days after the Indian Sugar Mills Association (ISMA), an association of private mills, released its estimates of production for the 2023–24 season, claiming that the output (after diversion towards ethanol) may decrease to 31.68 million metric tonnes (MMT) from the anticipated 32.8 MMT in the current season through September. A senior Food Ministry official stated, "We expect sugar production to be around 32.5 MMT after ethanol diversion, which is almost at par with the ongoing season ending 30th September.” In contrast to the 6.2 MMT permitted during the current season, he claimed that exports may not be permitted until at least March 31, 2024, so the domestic availability is anticipated to be higher. "In fact, we estimate that 5-5.5 MMT will be diverted to ethanol, compared to about 4 MMT this season," the official said. ISMA estimates that 4.5 MMT of sugarcane will be diverted for ethanol production next season, up from 4.1 MMT this season.

2. Food Secretary of India’s Statements Food Secretary of India’s Statements Mr. Sanjeev Chopra, the Food Secretary, told the media, "We thought this was creating some sort of panic that there is a sugar shortage in the country. We thought we must clarify. It is far too early to predict how much sugar will be produced in the next harvest, which will begin in October.” He emphasized that the area planted with sugarcane has increased from 53 lakh hectares (lh) last year to 56 lakh hectares (lh) this year. However, he acknowledged that initially, there had been some worries about the patchy rainfall. During the upcoming festival season, according to Chopra, the price of sugar and other essential commodities like edible oils and wheat will remain stable. According to him, there are currently 108 lakh tonnes (lt) of sugar in the country and 46 to 48 lt would be needed to meet demand in August and September, and the crushing season will begin in October. An estimated 275 lt of sugar are consumed annually. Regarding edible oil, he claimed that prices would remain stable because the sector had imported a sizable amount during the previous three months, when prices were generally lower. According to him, imports of crude edible oil reached as high as 17.5 lt in July. If you are a sugar importer wishing to buy sugar in bulk or a sugar exporter willing to export bulk sugar, then Tradologie.com is the right platform for you. Tradologie is a Software as a Service platform that facilitates bulk agro-trade across the globe. Through tradologie’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro- commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.