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.

hidden March 29, 2016 23:15:11 IST
India cuts 2015/16 sugar output estimate 1.4 pct - govt source
| Reuters

India cuts 201516 sugar output estimate 14 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:

also read

G7 countries set agenda for summit next month, vaccine and climate change rank high
science

G7 countries set agenda for summit next month, vaccine and climate change rank high

In a preview of the discussions, Blinken said, "We won't trade shots in arms for political favours. This is about saving lives."

Sony sold 7.8 million PlayStation 5 consoles since November 2020, PS Plus now has 47.6 million subscribers
News & Analysis

Sony sold 7.8 million PlayStation 5 consoles since November 2020, PS Plus now has 47.6 million subscribers

PlayStation’s overall business has gained a total operating profit of 342.2 billion yen ($3.14 billion) for the 2020 financial year.

COVID-19 crisis: US flights with medical supplies for India delayed till Wednesday
India

COVID-19 crisis: US flights with medical supplies for India delayed till Wednesday

Three US Air Force C-5 Super Galaxies and one C-17 Globemaster were scheduled to leave for India on Monday to deliver critical supplies