Agri Business

Sugar mills cut output estimate by 9%

Priya sundarajan | | Updated on: Jan 25, 2017
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India is likely to produce 21.3 million tonnes sugar in 2016/17, down 9 per cent from an earlier forecast of 23.4 million tonnes, as drought curtailed cane supplies in key producing states, a trade body said on Wednesday.

A drop in production could lift local prices and prompt the world's biggest consumer to allow duty-free imports of the sweetener, supporting global prices that are trading near their highest level in one-and-a-half months.

Sugar mills in top producer Maharashtra and third biggest producer Karnataka are closing earlier than initial expectations, Indian Sugar Mills Association said in a statement.

Published on January 27, 2018

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