According to sources in the food ministry, the government might soon approve one million tonnes (MT) of sugar exports in addition to the 6 MT of shipments that have already been authorised for the 2022–23 season (October–September).
More exports may be feasible, and we have a cushion for additional exports of one million tonnes, according to sources, who also said that the government will decide on additional exports next month after evaluating domestic production.
The ease of access to sugar in the nation has led to a decrease in wholesale and retail prices of the sweetener over the past month, it added.
In the years 2012–22, India shipped a record 11 MT of sugar. According to the food ministry, a decrease in production in the top three producing states of Maharashtra, Karnataka, and Uttar Pradesh has caused a lower projection of sugar output for 2022–2023 of 33.6 MT.
According to the food ministry, approximately 5 MT of sugar will be diverted for the manufacture of ethanol this year, a significant increase from the 3.6 MT in the prior year.
The official stated that the nation's overall supply of sugar would be 40.1 MT in 2022–23, which includes a carry–over stock of 7 MT from the previous year, despite an estimate of lower sugar production.
On March 3, the wholesale price of sugar was Rs 3,841 per quintal, down from Rs 3,860 a month earlier. According to the official, the retail price of sugar was also slightly lower at Rs. 41.61 per kg compared to Rs. 41.8 per kg during the comparable time.
The National Sugar Federation (NSF) has forecast that India's sugar production will fall by 7% to 33.5 MT from 35.9 MT in the previous season, owing to lower yields in Maharashtra and Karnataka as a result of unfavourable weather conditions in 2017.
Maharashtra, the state with the highest sugar production, has reduced its projected output for the current season by 9 per cent to 12.5 MT from 13.8 MT a year ago as a result of lower cane yield as a result of unusually heavy rainfall in October of the previous year.
