Id: 143 Name: Press Release : Sugar Production upto 15th March 2015 Venue: New Delhi Date: 17 Mar 2015 Event Pdf:   The sugar mills in the country have produced 221.8 lac tons of sugar during the current season upto 15th March, 2015.  This is 28 lac tons higher than the production upto the corresponding period in the last season of 193.8 lac tons.   As on 15th March, 2015, 476 sugar mills were still under operation, which were 409 mills last year at the same time.  It is important to note that 43 sugar mills in the country have already closed their operations, out of which 17 are in U.P, 7 in Maharashtra and 11 in Andhra Pradesh & Telangana.   Maharashtra sugar mills have produced 84.07 lac tons of sugar as against 64.10 lac tons last year upto 15th March, 2014.  As compared to 111 sugar mills which were still crushing sugarcane last season, 170 sugar mills continue to crush sugarcane in this season now.   The mills in Uttar Pradesh have produced 56.25 lac tons of sugar upto 15th March, 2015 which was 50.70 lac tons at the corresponding period last season.  As against 113 sugar mills operating last year at this time, 101 sugar mills are crushing sugarcane now.   Karnataka sugar mills have produced 38 lac tons of sugar and 62 sugar mills are still crushing sugarcane now.  Last year, as on 15th March 2014, Karnataka had produced 34.5 lac tons and 51 sugar mills were operating.  1 sugar mill has reportedly shut down their crushing operations by 15th March, 2015.   The mills in the other States have produced 43.47 lac tons (Gujarat 9.50; Bihar 5.20; Haryana 4.0; Punjab 4.25; A.P & Telengana 8.10; Tamil Nadu 6.20; Uttarakhand 2.60; Madhya Pradesh & Chhattisgarh 3.10), as compared to 44.50 lac tons produced in the last season.   The Government has revised its sugar production estimates to 265 lac tons, as compared to the earlier estimate of 250 lac tons.  They had previously estimated a surplus of 14 lac tons and, therefore, allowed incentives to export this 14 lac tons as raw sugar.  However, the global sugar prices fell at the same time mainly due to the massive depreciation of Brazilian currency in comparison to the US dollar, making sugar exports from Brazil even cheaper.  The fall in global sugar prices, therefore, have restricted raw sugar exports from India.   With higher estimations of the sugar production by the Government by 15 lac tons and lower expected raw sugar exports, the industry has requested for creation of 20 lac tons of buffer stocks.  It will help the industry with some cash flows to carry the extra sugar and will check distress sales by some sugar mills.  This 20 lac tons can then be used by the Government next season for its PDS requirements.