look news india
Mumbai: In May, the mills have released a quota of 23.50 lakh tonnes of sugar for sale in the open market, which is much lower than in May last year. In May last year, a quota of 2.7 million tonnes of sugar was released. 23.50 lakh tonnes of sugar was released in April of the current year.
In the current Chinese season, the government has allowed export of one million tonnes of sugar, but seven million tonnes of sugar is expected to be exported.
Chinese production is expected to be less than expected in the current season. From October to April 15 in the current Chinese season, the total sugar production in the country has come down by 18.40 percent to 25.425 lakh tonnes from year to year. Chinese production is expected to be less than consumption in the current season.
The way sugar production is declining, it cannot be denied that its level may be lower than demand. Market sources said that keeping this fact in mind, less sugar was released in May this year compared to May last year.
Pure sugar production in the current year is expected to be 25.9 million tonnes, while in the previous season (October-September) it was 31.9 million tonnes in 2023-24.