Mumbai, 03 Apr (Commoditiescontrol): The Indian Sugar and Bio-energy Manufacturers Association (ISMA) has released its latest figures, indicating stable sugar production as of March 31st, 2024, compared to the previous year. The total production reached 302.02 lac tons, slightly above last year's 300.77 lac tons.
This year saw 322 sugar factories ending their crushing operations by the end of March, compared to 346 during the same period last year. However, the number of operational factories has increased, with 210 still active this year against 187 from the previous year.
A detailed state-wise analysis reveals:
Uttar Pradesh led with 97.20 lac tons of sugar produced by 75 operational factories.
Maharashtra followed with 67 operational factories producing 107.32 lac tons.
Karnataka, Gujarat, Tamil Nadu, and other states collectively contributed to the national total.
The ISMA had earlier revised its net sugar production estimate for the 2023-24 season to 320 lac tons. Domestic consumption needs are projected at 285 lac tons, suggesting a healthy closing stock of 91 lac tons by the season's end.
With a normal to above-normal South West monsoon forecast for 2024, a moderate crushing season is anticipated for 2024-25. This stability in production is crucial for India's Ethanol Blending Program (EBP) and the sugar export market.
In light of the stable production, ISMA has requested government permission to export 10 lac tons of sugar this season. This move aims to balance domestic consumption, support the EBP, and capitalize on export opportunities.
(By Commoditiescontrol Bureau; +91-9820130172)
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