Talking stock: Will sugar turn sweeter in coming year as supply stabilises?

The sugar supply situation that has turned positive in the last few months will continue to remain comfortable next season as well

After months of uncertainty, the sugar sector is once again looking up. Thanks to a revision in the production estimates in the current season and a positive outlook for the forthcoming one that will start in October, the sugar supply situation looks comfortable.

Trade and market sources say Sugar Year (SY) 2023-24 will end this month with closing stocks of 8-9 million tonnes, which would be significantly higher than the 2022-23 season’s closing stocks of 5.7 million tonnes.

As a result, the country will start the 2024-25 sugar season with nearly 58 per cent more stocks than last year,