India might export a report 7.5 million tonnes of sugar within the 2021/22 advertising 12 months, almost 25% greater than the earlier estimate, with output set to succeed in a report excessive because of helpful climate, a number one commerce physique mentioned on Friday.

Greater exports from the world’s second-biggest sugar producer might weigh on international costs.

Mills have up to now signed contracts to export 6 million tonnes of sugar within the present advertising 12 months that ends on Sept. 30. Of that, 4.2 million tonnes had been bodily moved by the top of February, the Indian Sugar Mills Affiliation (ISMA) mentioned in an announcement.

India is prone to produce a report 33.3 million tonnes of sugar in 2021/22, almost 5.9% greater than the earlier estimate, with output set to leap within the western state of Maharashtra and neighbouring Karnataka, the ISMA mentioned.

Maharashtra’s sugar output is prone to attain a report 12.6 million tonnes, up from the earlier forecast of 11.7 million tonnes, the commerce physique mentioned.

Karnataka’s output estimate was revised as much as 5.5 million tonnes from 4.52 million tonnes, it mentioned.

The commerce physique additionally raised its consumption estimate by 2.6% to 27.2 million tonnes as gross sales rose within the first 4 months of the advertising 12 months.

An increase within the quantity of sugar diverted to ethanol manufacturing together with increased home demand and report excessive exports is predicted to deliver down stockpiles at first of the brand new season on Oct. 1 to six.8 million tonnes, in contrast with 8.2 million tonnes a 12 months earlier, the commerce physique mentioned.

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