Maharashtra set to produce record sugar levels in new crop season

MUMBAI (Reuters) – India’s top sugar producing state of Maharashtra is set to churn out record levels for the second year in a row as farmers have expanded the growing area for the cane crop, the state government said in a statement on Monday.

Higher production will weigh on local prices and may prompt New Delhi to allow sugar exports in the 2022/23 marketing year starting from Oct. 1. Indian exports could weigh on global sugar prices..

Maharashtra could produce 13.8 million tonnes of sugar in the season, slightly higher than 13.7 million tonnes this year, the state government said.

Mills in the state will start cane crushing from Oct. 15 and the season is likely to last for 160 days.

Government sources last week told Reuters that India is poised to allow 5 million tonnes of sugar exports in the first tranche for the new marketing year beginning in October.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Leave a Reply

Your email address will not be published.

11 − 2 =