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India Ratings on Tuesday said it expects sugar production to increase to 30.5 million tonnes in sugar year 2020-21 (SS21). Domestic oversupply to continue in SS21 due to high carryover stocks and an expected increase in production, India Ratings (Ind-Ra) said in a report.
Sugar marketing season runs from October till September.
Ind-Ra said it expects sugar production to increase to 30.5 million tonnes in SS21, factoring in a cane diversion equivalent to 1.5 million tonnes of sugar.
Sugar production for SS20 is estimated to be 27.2 million tonnes.
Meanwhile, the Covid-19 outbreak is likely to result in decline in demand by around
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