Source: Ukragroconsult (Ukraine)
According to the Indian Sugar Mills Association (ISMA), sugar mills produced 9.54 million tons of sugar as of December 31, down 15.6% from the same period last season.
Up to the end of December, 493 mills were processing sugarcane compared to 512 mills at the same date last year.
The decline in sugar production this year was due to a large diversion of sugar to ethanol production, estimated at 4 million tons, down from 2.15 million tons in the 2023/24 season, and the late start-up of sugar mills in the states of Maharashtra and Karnataka.
In January, ISMA plans to release its second estimate of sugar production for the 2024/25 season based on satellite imagery received and its detailed analysis.
ISMA estimates that domestic sugar consumption in the current season will be lower than last season at around 28 million tons.
The domestic sugar sales quota for the first four months of the current 2024/25 season is 700,000 tons lower than the same period last season. ISMA estimates that average monthly domestic sugar consumption during the eight months of the 2024/25 season will be about 2.35 million tons.