🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Sweet talk: sugar output seen jumping in key Indian producing state

Published 19/04/2017, 05:42 pm
© Reuters.  Sweet talk: sugar output seen jumping in key Indian producing state
SB
-

* Maharashtra sugar output seen rising nearly 70 pct in 2017/18

* Comes as farmers plant more cane due to ample rain

* Would follow output slump in wake of El Nino

* Likely to sap demand for imports in world's top sugar consumer

By Rajendra Jadhav

MUMBAI, April 19 (Reuters) - Sugar output in Maharashtra, one of India's key producing states, will likely jump nearly 70 percent in 2017/18 to 7 million tonnes as ample rainfall drives farmers to plant more cane, an industry body told Reuters.

That jump would help push the country's overall sugar production back near consumption levels after a drop expected in the current crop year, ending Sept. 30, in the wake of a strong El Nino weather pattern that prompted severe drought.

Increased output in he world's top consumer of sugar, used to prepare everything from sticky desserts to sweets bought as treats during festivals, could sap demand for imports, dragging on international prices SBc1 that are already trading near their lowest in 10-months.

"Farmers have raised area under cane for the next season as rainfall was satisfactory across the state," said B.B. Thombre, president of industry body the Western India Sugar Mills Association (WISMA), forecasting the climb in output to 7 million tonnes.

"India will produce enough sugar next season to fulfil local consumption."

Back-to-back droughts look set to curb Maharashtra's production to 4.2 million tonnes in 2016/17 from 8.41 million tonnes the year before, with Indian output expected to plunge 19 percent to 20.3 million tonnes. That would put the nation's production below consumption levels of around 25 million tonnes for the first time in seven years. year production fell due to poor yields. Next year we are expecting improvement in yields," said Sanjeev Babar, managing director of the Maharashtra State Co-operative Sugar Factories Federation, a body for co-operative mills.

India is forecast to receive average rainfall in 2017. have also been switching back to growing sugarcane after a drop in prices for oilseeds and pulses dented the appeal of sowing those crops, said Nitin Kalantri, a pulse miller in Maharashtra, in west India. means that imports could decline, hitting major suppliers such as Brazil and Thailand, which have this year been benefiting from New Delhi's decision to allow duty-free imports of 500,000 tonnes of raw sugar. will have ample domestic supply next season. We may not need imports," said Balasaheb Patil, chairman of the Sahyadri co-operative sugar factory in Maharashtra.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.