India cuts 2015/16 sugar output estimate 1.4 pct - govt source | Reuters

NEW DELHI India has lowered its sugar output estimate by 1.4 percent from a previous official forecast, a government source said on Tuesday, potentially boosting prices and helping money-losing mills after six straight years of surplus production.

India is expected to produce 25.64 million tonnes of sugar in the cane crushing season that began in October 2015 as a second year of drought cut cane yields in the world's second-biggest producer of the sweetener after Brazil.

The revised estimate was arrived at after a meeting of officials from key producing states, the source said.

The country's top cane growing western Maharashtra state is seen producing 8.5 million tonnes of sugar, output in northern state of Uttar Pradesh is expected at 7 million tonnes, while southern Karnataka state is likely to produce 3.7 million tonnes, the sources added.

India sugar prices have surged nearly 10 percent since January and a fall in domestic production will give a fillip to already high global prices.

(Writing by Sankalp Phartiyal; Editing by Subhranshu Sahu and David Evans)

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

Updated Date: Mar 29, 2016 23:15 PM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See