Powered by: Motilal Oswal
28/10/2021 2:53:26 PM | Source: Reuters
India's 2021-22 sugar output seen 1.6% lower than previous estimate -ISMA
News By Tags | #139 #5728 #612
India's 2021-22 sugar output seen 1.6% lower than previous estimate -ISMA

NEW DELHI - India is likely to produce around 30.5 million tonnes of sugar in the season which on Oct. 1, 1.6% lower than a previous industry estimate, a leading producers' body said on Thursday.

The Indian Sugar Mills Association (ISMA) in June said mills were expected to churn out 31 million tonnes of sugar in the 2021/22 season.

Estimates of higher diversion of cane juice and molasses - a by-product of the sugar manufacturing process - for ethanol would result in marginally lower sugar output in the 2021-22 season, ISMA said in a statement.

India plans to achieve 20% ethanol-blending with gasoline by 2025 to reduce its dependence on costly oil imports and slash excessive sugar production.

 

(Reporting by Mayank Bhardwaj; editing by Jason Neely)

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here