India has revised the country’s 2015-16 sugar estimates by trimming output 1.4 per cent from the previous forecast, Reuters reported quoting government sources. The reduced output is likely to support prices thereby helping the cash strapped sugar mills hit by six years of surplus.
As per new reports, India’s sugar output can be expected to be 25.64 million tonnes in the crushing season that commenced on October 2015. India is the world’s second biggest sugar producer after Brazil, but has been hit by second year of drought that reduced the cane yields.
Expected sugar production in top producing state Maharashtra is 8.5 million tonnes. Output in the second biggest producing state Uttar Pradesh is expected at 7 million tonnes. Karnataka’s sugar output is estimated to be 3.7 million tonnes, sources told Reuters.