India’s Sugar Outlook for 2023-24: AISTA Forecasts 4% Dip in Production to 31.6 Million Tonnes
On Monday, the sugar trade body AISTA projected India’s sugar production for the 2023-24 season to be approximately 31.6 million tonnes, reflecting a 4% decrease compared to the previous season.
The estimated net domestic sugar production, excluding around 2 million tonnes diverted for ethanol production, was released in the first production estimates.
With an estimated sugar production of 31.6 million tonnes and an opening stock of 5.7 million tonnes, the total sugar availability in the country is anticipated to be 37.3 million tonnes. This surpasses the projected domestic consumption of 29 million tonnes.
Consequently, the closing stock of sugar for the 2023-24 season is expected to be around 8.2 million tonnes. In the previous 2022-23 season, sugar production stood at 32.9 million tonnes.
Stay informed with our financial updates, stocks, bonds, commodities. Get global & political insights. Follow us & enable notifications for the latest updates.
