India's sugar demand-supply tightly balanced as world deficit shrinks

Their assumption is based on the sugarcane crushing that has taken place in major growing states in the first month and half of the 2023-24 new season

India’s production and consumption of sugar remain very tightly balanced amid the slashing of the global sugar deficit by the International Sugar Organisation (ISO), according to market players.

The ISO has slashed its projections of the global sugar deficit for the 2023-24 season (October to September) from 2.11 million tonnes in August to 0.33 million tonnes due to improvement in production prospects in Brazil.

The assumption of Indian  traders and industry players is based on the sugarcane crushing that has taken place in major sugar-growing states in the first month and a half of the 2023-24 new season.

They said though the ex-mill