Sugar production expected to see a slight dip
The Hindu
Sugar production in the 2023-24 sugar season which starts in October is expected to be 317 lakh tonnes as against 328 lakh tonnes during the current season, after diversion for ethanol.
Sugar production in the 2023-24 sugar season, which starts in October, is expected to be 317 lakh tonnes as against 328 lakh tonnes during the current season, after diversion for ethanol.
Preliminary estimates by the Indian Sugar Mills’ Association show that total production will be 362 lakh tonnes compared with 369 lakh tonnes in the ongoing season, which will end on September 30. Sugar diversion for ethanol will be 45 lakh tonnes while it is nearly 41 lakh tonnes this season. Sugar consumption is likely to be 275 lakh tonnes.
Meanwhile, in a communication to the Department of Food and Public Distribution, the Association sought an increase in the price of ethanol made from sugarcane juice/syrup to ₹69.85 a litre compared with the current price of ₹65.60. The sugar industry requires ₹17,500 crores investment to scale up production capacity to meet ethanol requirements. However, the industry will need viable return on investment. The ethanol price should be in tune with the increase in the Fair and Remunerative Price (FRP) paid by mills to farmers. In the 2023-24 sugar season, the FRP of sugarcane will be ₹315 a litre, it said.