India: Sugar Annual

Commodities

India’s centrifugal sugar production in marketing year (MY) 2020/21 (Oct-Sept) is forecast to grow 17 percent to 33.7 million metric tons (MMT), on sugarcane production forecast of 381 MMT from 5.4 million hectares (MH). Uttar Pradesh will be the largest producer of sugar in India, for the fourth consecutive year, followed by the rebounding states of Maharashtra and Karnataka, which had lower than expected production in MY 2019/20. Assuming normal market conditions in the aftermath of the coronavirus pandemic, India may export up to 5 MMT of sugar with the existing incentives, after adjusting for a modest rise in sugar consumption to 28.5 MMT, thereby resulting in closing stocks of 17.4 MMT, which is roughly 7 months of consumption. Note: All sugar data in the report are raw value basis unless otherwise noted. In addition, numbers appearing in context are rounded to nearest decimal point.

India: Sugar Annual