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    Sugar production to bounce back soon

    Synopsis

    Though the next monsoon season will decide the final size of India's next sugarcane crop, industry leaders say that at present, India is likely to produce about 30 million tonnes of sugar in 2020-21 as against 26 million tonnes expected in 2019-20.

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    PUNE: India will dominate the world sugar market for next few years as, after taking a hit in the ongoing season due to vagaries of weather, the country's sugar production is set to bounce back next year by about 15%.

    Though the next monsoon season will decide the final size of India's next sugarcane crop, industry leaders say that at present, India is likely to produce about 30 million tonnes of sugar in 2020-21 as against 26 million tonnes expected in 2019-20.

    During past 8 to 9 years, India has become net surplus sugar producer of sugar breaking the infamous sugar production cycle of few years of surplus production followed by a few years of shortages, which used to influence sugar prices in big way.

    Since last year, central government has extended incentives to help the sugar industry deal with excess sugar production. In the ongoing sugar season, dip in sugar production of India along with Thailand has helped global move prices upward.

    Vivek Pittie, president, Indian Sugar Mills Association (ISMA) said, “Due to good rainfall this year, area under sugarcane will increase in Maharashtra, Karnataka and Tamilnadu next year.”

    World Sugar Organisation, which expects India’s sugar production to bounce back in 2020-21, has said that the country had become third largest sugar exporter in 2019-20.

    Uttar Pradesh, which always used to be the second highest sugar producer, has become the top sugar producer thanks to use of a new high yielding variety, India is likely to remain a structural sugar exporter, not just an occasional player.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

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    1 Comment on this Story

    Valerian Pereira187 days ago
    start massive plantation of Olive trees and Palm for oil like Malaysia.be self reliant..self sufficient like Chinese do..
    The Economic Times