The sugarcane crushing season 2023-24 in India has entered its last leg as a large number of sugar mills have started ending operations.
According to data released by Indian Sugar & Bio-energy Manufacturers Association (ISMA), sugar production till 31st March, 2024 in the current 2023-24 Sugar Season reached 302.02 lakh tons, against 300.77 lakh tons produced last year on the corresponding date.
(Source: ISMA)
Overall, 322 factories have closed their crushing operations across the country against 346 closed last year, as of end of March i.e. number of operating factories were higher at 210 this year against 187 mills which were operating last year on the corresponding date.
ISMA had earlier in mid – March revised its net sugar production estimate for the season 2023-24 to be 320 lakh tons. Domestic consumption needs are expected to be 285 lakh tons.
As per ISMA, with the above production and consumption figures, a healthy closing stock of 91 lakh tons can be anticipated by the end of the season.
Weather forecasting agencies have predicted a normal to above-normal South West monsoon for the year 2024. Consequently, a moderate crushing season is expected for 2024-25.
ISMA has requested the Government to permit the export of 10 lakh tons of sugar in the current season. The request for export suggests a careful balance between meeting domestic consumption needs, sustaining Ethanol Blending Program (EBP) and leveraging surplus for export opportunities.
