Indian sugar companies sign export contracts for 5 MT
Indian sugar companies have contracted for exports worth 5 MT in the current sugarcane crushing season 2021-22. Citing trade reports, ISMA said that of this, 3.15 MT had already been physically shipped so far between Oct 2021 and Jan 2022.
Indian sugar companies have contracted for exports worth 5 million tonnes (MT) in the current sugarcane crushing season 2021-22.
Citing trade reports, the Indian Sugar Mills Association (ISMA) said that of the 5 MT of export contracts, 3.15 MT had already been physically shipped so far between Oct 2021 and Jan 2022.
This is more than triple the quantum exported in the corresponding period last crushing season when physical shipments were a little under 1 MT.
Besides, 0.8 MT of sugar consignments are also in the pipeline for being exported in Feb 2022, ISMA said in a press communiqué.
On the ethanol front, out of the requirement of 950 million litres (ML) by the oil marketing companies (OMCs) in its 4th cycle, about 390 ML has been offered by suppliers.
“OMCs are currently examining the bids and are expected to do allocations shortly. However, so far for the 2021-22 Ethanol Supply Year (ESY), OMCs have allocated about 3.85 billion litres (BL) of ethanol from different feedstocks,” the Association informed.
Meanwhile, till Feb 15, about 22 MT of sugar has been produced by the domestic sugar mills as compared to 21 MT during the corresponding period last season.
Out of 516 sugar mills that have participated in crushing operations in the 2021-22 season, 13 units have concluded their crushing operations and closed thereafter.
In Maharashtra, 197 mills have produced 8.62 MT of sugar compared with 7.55 MT last year.
In Uttar Pradesh, 117 mills are currently in operation, while three units have closed for the season. The state output stands at nearly 6 MT compared to 6.51 MT last year.
Maharashtra and UP are the country’s top sugar producers and account for more than 50 per cent of the annual output.
In Karnataka, 72 mills have produced 4.49 MT of sugar compared to nearly 4 MT produced by 66 units last year.
Similarly, the mills in other sugarcane-growing states, viz. Gujarat, Tamil Nadu, Andhra Pradesh, Telangana, Bihar, Uttarakhand, Punjab, Haryana, Madhya Pradesh, Chhattisgarh, Rajasthan and Odisha have also contributed to the domestic sugar basket.