By Rajendra Jadhav
Mumbai, March 4 (Reuters) – India will be able to export 7.5 million tonnes of sugar in the 2021/22 season, almost 25% higher than the previous estimate, production has peaked due to good weather, a major trade body has said. Friday.
* Rising exports from the world’s second-largest sugar producer may weigh on global prices.
* The mills have so far signed agreements to export 6 million tonnes of sugar in the current market year ending September 30. Of that amount, 4.2 million tonnes had been physically moved by the end of February, according to a report by the Sugar Producers Association of India (ISMA).
* India is likely to produce 33.3 million tonnes of sugar by 2021/22, which is almost 5.9% higher than the previous estimate, according to ISMA.
As sales increased in the first four months of the campaign, the trading body raised its consumption estimate by 2.6% to 27.2 million tonnes.
* With the increase in the amount of sugar converted to ethanol production, rising domestic demand and record exports, stocks are expected to fall from 8.2 million tonnes to 6.8 million tonnes at the start of the new season on October 1st. A year ago, according to the trade organization.
(Report by Rajendra Jadhav. Editing by Javier Lira in Spanish)
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