Country’s sugar production will decrease by 3.41 percent in sugar marketing year 2023-24: ISMA | Loktej Business News
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New Delhi, 02 August (Hindustan Times). Sugar production in the country is expected to decrease in the sugar marketing year 2023-24. The Indian Sugar Mills Association (ISMA) has projected sugar production to decline by 3.41 per cent to 316.80 lakh tonnes in the new sugar marketing year beginning October 2023.
ISMA said in a statement on Wednesday that sugar production is estimated to decline by 3.41 per cent to 316.80 lakh tonnes in the sugar marketing year 2023-24. At the same time, in the current sugar marketing year 2022-23 (October-September), sugar production is estimated to be 328 lakh tonnes. This decline in sugar production will come because of the increased use of sugarcane for ethanol production.
Releasing preliminary sugar production estimates, ISMA said that in the sugar marketing year 2023-24, about 4.5 million tonnes of sugar production would be shifted to ethanol. This quantity is 41 lakh tonnes in the current season. Sugar production in 2023-24 will exceed domestic consumption by 27.5 million tonnes, leaving a surplus of 4.2 million tonnes at the end of the season. The area under sugarcane cultivation remains low in Karnataka and Tamil Nadu. Despite this, the area under sugarcane in the sugar marketing year 2023-24 in the country is 59.81 lakh hectares, which is slightly more than the previous year’s 59.07 lakh hectares.
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