India: Sugar Semi-annual
Link to report:
FAS/New Delhi’s forecast for India’s centrifugal sugar production in marketing year (MY) 2023/24 (October-September) is unchanged from the previous estimate of 36 million metric tons (MMT), equivalent to 33.6 MMT of crystal white sugar. A substantial supply of sugarcane and derivatives used by India's booming ethanol industry could lead to a domestic supply in 2023/24 that doesn't meet domestic consumption. Post increased India’s sugar exports for MY 2022/23 to 7.4 MMT owing to continued favorable market prices. For the outyear sugar exports forecast is 6.5 MMT. The Indian government may continue restricting the sugar export for the outyear 2023/24 to maintain domestic sugar market prices, and affordability for domestic consumers.
