Agri Commodities Preview: Domestic Sugar Output To Hit Six Year High

capital market | Mumbai | October 06, 2017 09:13 IST

Agri Commodities Preview: Domestic Sugar Output To Hit Six Year High

Indian sugar output will rebound in newly-started 2017-18 marketing year, lifted by higher-than-expected cane area. The US Department of Agricultures New Delhi bureau pegged at 27.7m tonnes sugar output in India, the second-biggest producing country, in the marketing year which started this month - a rise of 25% on last seasons result. The upgrade took the production forecast well above the 25.8m-tonne figure that the USDA has officially factored in, besides lifting it too to the biggest volume in six years, and the third largest on record. The update reflected ideas of cane area rising further than had been thought, by 14% to 5.0m hectares, and with much of that of high yielding, short-duration varieties. This was particularly true in Uttar Pradesh, the north eastern state which is Indias top cane grower, and where 2017-18 sugar output will be the highest in decades, the bureau said. Good water storage, above a 10-year average, across major reservoirs in North India, plus recent weather reports of late withdrawal of monsoon from north west India should bring some relief [for] soil moisture, the bureau said.

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