India. Sugar production decreased by more than 15%
According to the Indian Sugar Manufacturers Association (ISMA), as of December 31, sugar mills produced 9.54 million tons of sugar, down 15.6% year-on-year.
By the end of December, 493 factories were processing sugar cane, compared to 512 factories at the same date last year.
The decline in sugar production this year was caused by a greater diversion of sugar to ethanol production, which is estimated at 4 million tons, compared to 2.15 million tons in the MY 2023/24, as well as the late start of sugar mills in Maharashtra and Karnataka.
In January, ISMA plans to publish its second estimate of sugar production in the 2024/25 MY based on satellite images and their detailed analysis.
According to ISMA, domestic sugar consumption in the current season will be lower than last season and will amount to about 28 million tons.
The domestic sugar sales quota for the first four months of the current 2024/25 season is 700 thousand tons lower than in the same period last season. According to ISMA estimates, the average monthly domestic sugar consumption during the eight months of the 2024/25 season will be about 2.35 million tons.
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