We currently think it’ll crush 419.25m tonnes of cane, up 26.45m tonnes year-on-year.
From this, the mills should be able to produce 29.8m tonnes of sugar, (after its 3.4m tonne ethanol diversion), down 740k tonnes year-on-year.
With consumption set to total 25.64m tonnes in 2021/22, it’ll have 4.4m tonnes more sugar than it needs to satisfy domestic demand.
India will likely export the balance.
As it stands, India’s raw sugar exports should be workable above 20.6 c/lb for raws and 516 USD/mt for whites. We’ll continue to monitor the plausibility of Indian sugar exports in these weekly Opinions.
Other Opinions You Might Be Interested In…
- Ask the Analyst: India’s Monsoon Rainfall
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- The Farmer Diaries (Australia): Wet Weather and a Slow Crush
Explainers You Might Be Interested In…
- Czapp Explains: The Indian Ethanol Industry
- Czapp Explains: The Sugar Industry in Maharashtra and Karnataka
- Czapp Explains: The Sugar Industry in Uttar Pradesh
