Sugar output up 16% at 27.84 MT, cane arrears cross Rs 21,000 crore

India’s sugar production rose by 16% to 27.84 million tonnes (MT) till May 15 of the current marketing year that started in October last year, resulting in sweetener’s low prices and huge cane arrears to farmers at over Rs 21,000 crore.

Indian Sugar Mills Association (ISMA) demanded that the Centre should either clear cane arrears to farmers directly or purchase 3 MT of sugar from the millers at the earliest to help them in making outstanding cane payments.

State-wise, sugar production in Maharashtra rose to 10.43 MT till May 15 as against 7.72 MT in the year-ago period. Uttar Pradesh-based sugar mills produced 7.08 MT till May 15 against 6.5 MT in corresponding period of 2013-14. Output in Karnataka went up to 4.87 MT from 4.11 MT. Sugar production of India, the world’s second largest producer, is estimated to touch 28 MT in 2014-15 marketing year.

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Posted in: Indian Market Tips