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The Indian Sugar Mills Association (ISMA) released its preliminary projections for the 2023-24 sugar season (SS), forecasting sugar production at approximately 337 lakh tonnes (lt), a decline of around 8 per cent from the estimated 366 lt for 2022-23. This gross sugar production for 2023-24 SS without considering diversion towards ethanol shall be sufficient for domestic consumption, ISMA stated.
“This is particularly promising, considering that India’s average domestic sugar consumption stands at approximately 278.5 lakh tonnes, signifying a favourable equilibrium between production and consumption in the coming year,” ISMA added.
Based on the satellite images procured in the latter part of June 2023, the total acreage under sugarcane in the country is estimated to be around 57 lakh hectares in 2023-24 SS. The images of the cane area, field reports regarding expected yield, sugar recovery, drawal percentage, impact of previous and current year’s rainfall, water availability in reservoirs and other related aspects were discussed in the ISMA meeting and accordingly first advance estimates for 2023-24 SS are being released.
Diversion of sugar towards ethanol shall be estimated only after declaration of feedstock-wise ethanol procurement price for ESY 2023-24, ISMA added.
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