Sugar exports up 64% to 71 lakh tonnes during October 2021 to April 2022 period: ISMA

Source: Reuters

Sugar exports have risen by 64 percent to 71 lakh tonnes during October 2021-April 2022 period on better demand for the Indian sweetener in global markets, according to industry body ISMA.

In a statement, the Indian Sugar Mills Association (ISMA) said that 43.19 lakh tonnes of sugar were exported during the corresponding period of the last year.

"As per port information and market reports, over 85 lakh tonnes of contracts for export of sugar have already been entered into so far.

Out of this, around 71 lakh tonnes of sugar have been physically exported out of the country till end of April 2022," ISMA said in a statement.

Another 8-10 lakh tonnes of sugar is in pipeline to be physically exported in May 2022. ISMA said it expects over 90 lakh tonnes of export in the current 2021-22 marketing year, as against 71.91 lakh tonnes exported in the previous year.

Sugar production rose by 14 percent to 348.83 lakh tonnes till May 15 of the current marketing year that started in October 2021, on higher sugarcane production, according to ISMA.

Sugar production stood at 304.77 lakh tonnes in the year-ago period. The sugar marketing year runs from October to September.

"The net sugar production without diversion into ethanol is higher by 58.07 lakh tonnes as compared to last year.

However, in terms of actual sugar produced after considering diversion for production of ethanol, the difference in sugar production is about 44.06 lakh tonnes," ISMA said.

Total sales in April 2022 have been estimated as 23.91 lakh tonnes. "Total sales in the current season up to April, 2022 are estimated at 160.05 lakh tonnes as against 152.61 lakh tonnes during the same period last year," the statement said.