India's sugar production in 2022/23 could fall 1.4% from the current season as mills are likely to divert more cane for ethanol production, a leading trade body said on Friday. The country could produce 35.5 million tonnes of sugar in the new season starting from Oct. 1, compared to 36 million tonnes in the current season, the Indian Sugar Mills Association (ISMA) said in a statement. In the next season, 4.5 milion tonnes of cane is likely to be diverted for ethanol production compared to 3.4 million tonnes in this year, the trade body said.
MUMBAI (Reuters) -India has extended by two weeks a deadline for the export of 800,000 tonnes of sugar as annual monsoon rains make it tough for many producers to move stocks from factories to ports, the government said on Friday. Mills in the world's biggest sugar producer are now allowed to export the sweetener until July 20, the government said in a notification, pushing back a previous date of July 5, which some mills missed after heavy rains impeded transport. "This is a very good step," said Aditya Jhunjhunwala, president of producer body the Indian Sugar Mills Association (ISMA).
India is considering allowing mills to ship out stocks of raw sugar that have piled up in ports and warehouses, trade and government sources said on Tuesday, weeks after it imposed curbs on overseas sale of the sweetener. Additional shipments from India, the world's biggest exporter of sugar after Brazil, could weigh on raw sugar futures, which are trading near their lowest in four months. Last month, India capped this season's exports at 10 million tonnes, a figure they had almost reached, in a bid to prevent a surge in domestic prices as the world's second most populous nation battles high food inflation.