India's sugar production seen rising again in the new season: USDA

(Reuters) - Following are selected highlights from a report issued on Tuesday by the U.S. Department of Agriculture's Foreign Agricultural Service post in New Delhi:

"Assuming normal rainfall and favorable weather conditions, India's centrifugal sugar production in marketing year (MY) 2021/22 (October-September) is forecast to grow 3% to 34.7 million metric tons (MMT) (equivalent to 31.8 MMT of crystal white sugar) on a sugarcane production forecast of 389 MMT."

"India will retain its existing export policy that will enable subsidized exports at six MMT. Consumption is forecast to rise 2% to 28.5 MMT, as the economy recovers from the pandemic. Closing stocks are estimated at 16.5 MMT and expected to further decline as India diverts more sugar toward ethanol production to meet its domestic blending mandate."

To read the full report, click: https://bit.ly/3aszme7

 

(Reporting by Marcelo Teixeira; Editing by Sam Holmes)