Indian trade body cuts sugar output estimate as drought hits cane

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Reuters NEW DELHI
Last Updated : Jan 22 2016 | 2:48 PM IST

NEW DELHI (Reuters) - India is likely to produce 26 million tonnes of sugar in the 2015/16 season that began on Oct. 1, down 3.7 percent from the previous estimate, as the first back-to-back drought hit cane plantation in top producer Maharashtra, a leading trade body said on Friday.

Lower production could limit India's exports and boost global prices.

Indian Sugar Mills Association had cut the 2015/16 season output estimate to 27 million tonnes in September, down from a preliminary estimate of 28 million tonnes in July.

(Reporting by Mayank Bhardwaj; Editing by Anand Basu)

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First Published: Jan 22 2016 | 2:31 PM IST

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