India’s sugar output is expected to reach a record 35-35.5 million tonnes during the upcoming season beginning October, around 10 per cent more than this year. According to preliminary estimates by the Indian Sugar Mills Association (ISMA), sugar production in 2018-19 could touch a new record if monsoon remained normal.
A second consecutive year of bumper harvest could again pull down sugar prices in retail markets, which had shown some signs of revival following a series of steps taken by the government, leading to cane arrears.
Earlier, the National Federation of Cooperative Sugar Factories (NFCSF), too, expressed apprehension over another bumper harvest