October 21, 2014
Increased consumption and exports rates will offset India’s increased sugar cane crushing this season, in turn supporting higher than expected imports. The U.S. Department of Agriculture (USDA) New Delhi bureau forecasts India’s sugar output for 2014/15 to be 27.25 million tons while the USDA official forecast is 650,000 higher. However, these estimates exceed the estimates of India’s government at between 24.5 million tons and 25 million tons, the Indian Sugar Mills Association at 25 million tons to 25.5 million tons, and Platts Kingsman at 26.3 million tons. Based on the projection that India’s sugar consumption will increase by 1 million tons per year to reach 27 million tons for 2014/15, the New Delhi bureau forecasts sugar imports to be 1 million tons as exports will remain steady from last year at 1.5 million tons on government subsidized shipping. After four years of global sugar production surplus, investors are closely watching supply and demand scenarios in India, the world’s top sugar consuming country – to read further:
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