According to the latest reports by Indian Sugar Mills Association (ISMA), sugar production till 15th November, 2022 in the current 2022-23 SS is 19.9 lac tons, against 20.8 lac tons produced last year on 15th November 2021.
Several sugar mills in West, started their operations late this season, because of which the sugar production till 15th November, this year is slightly lower.
As per port information and market reports, about 35 lac tons of contracts for export of sugar have already been entered into so far. Out of this, about 2 lac tons of sugar have been physically exported out of the country in the month of October,22 as compared to about 4 lac tons exported in the corresponding month last year.
This needs to be noted that several traders entered in export contracts for the 2022-23 season, much before the export policy announced by the Government i.e. before 5th November’2022. Since then, there has been upward trend in international prices of sugar, as a result of which sugar mills are renegotiating export contract prices.