Indian Sugar Mills Association sees sugar output rising to 29.5 mt

UP, Maharashtra could produce over 10 million tonnes each this season

The Indian Sugar Mills Association (Isma) increased its earlier estimates for the country's sugar production by 45 per cent to 29.5 million tonnes (mt) for 2017-18, after major producers Maharashtra and North Karnataka reported substantially higher yields per hectare.
 
Reports of higher production and falling prices have put pressure on the share prices of sugar companies. Most are trading around a 52-week low.
 
While the Business Standard index of sugar stocks is down 29.3 per cent since December, the BSE Sensex has gained 1.5 per cent.
 
“With production estimates high, companies are likely to get impacted, with