Sugar production in India to cross record 30 mt, prices under pressure

With falling prices, sugar companies' share prices have crashed

Sugar production in India is set to far exceed 30 million tonnes (mt) in 2017-18 (October-September). 

Till April 15, it crossed the production estimate of 29 mt and mills produced 29.98 mt, according to Indian Sugar Mills Association (Isma). 

Two-hundred and twenty-seven sugar mills are still crushing cane, which means production will be much higher in the sugar season.

Isma stated in a release on Tuesday that with rise in production and supply, prices had come under severe pressure, and compared to the cost of production, the current ex-mill sugar prices were around Rs 8 per kg lower, and sugar