With booming records India's Sugar production hits 281.82 lakh tonnes

New Delhi, April 3: India pushing ahead the ‘Make in India’ mission with dedicated efforts, equally is reaping the successful outputs. India produced 281.82 lakh tonnes (45% higher than last year) of sugar during October-March 2017-2018, the Indian Sugar Mills Association (ISMA) said. 

"This 281.82 lakh tonnes is about 92.95 lakh tonnes higher than last year, which was expected, since the estimated sugar production in the current season is about 45 per cent higher than the last season," ISMA said in a statement.

Out of the total 524 sugar mills engaged in operating and crushing canes in the ongoing season, 193 have completed crushing, it said. A few more mills in Maharashtra and Karnataka might also end crushing in a couple of days' time.

Top sugar producers of Uttar Pradesh, Maharashtra and Karnataka produced 95.40 lakh tonnes, 101.27 lakh tonnes and 35.56 lakh tonnes, respectively, till March 31, it said.

The average wholesale prices of sugar across the country have crashed below the production cost by Rs 500-600 to Rs 3,000 per 100 kg due to the unexpected supply surplus, the sugar mills' body said.

"Though the government has announced MIEQ (minimum indicative export quota) of 20 lakh tonnes for exports to move some surplus stocks out of the country, due to depressed world sugar market, sugar importers are offering an FOB (freight on board) price at the port of around $350 per tonnes for exports."

India´s sugar surplus could swell to 5.3 million tonnes as production for the 2017/18 crop year is set to surge to a record 30.3 million tonnes as output rises from the top two producing states, the Western India Sugar Mills Association (WISMA) said.