Indian trade body cuts sugar output estimate as drought hits cane | Reuters

NEW DELHI 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)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Published Date: Jan 22, 2016 02:47 pm | Updated Date: Jan 22, 2016 02:47 pm