May 26, 2022
2 mins read

India turns largest producer of sugar

About 80 per cent of sugar is produced in Maharashtra, Uttar Pradesh and Karnataka and because the two states south of Narmada are nearer to the ports, export takes place more from these states…reports Asian Lite News

The government on Wednesday claimed that India has become the largest producer of sugar in the world in the year 2022-23, more than Brazil, while it would be the second largest exporter of sugar.

Sugar production in 2018-19 was 332 lakh metric tonnes (LMT) after discounting diversion of 3 LMT for ethanol; in 2019-20, it was 274 LMT (after discounting diversion of 9 LMT for ethanol); in 2020-21, the production increased to 310 LMT (after discounting diversion of 22 LMT for ethanol) and for 2021-22, it is 335 LMT (after discounting diversion of 35 LMT for ethanol).

The production of sugar has increased and so has sugar exports. In sugar seasons 2017-18, 2018-19 & 2019-20, only about 6.2 LMT, 38 LMT & 59.60 LMT of sugar was exported. “In sugar season 2020-21 against target of 60 LMT, about 70 LMT have been exported. In the current sugar season 2021-22, against the projected 100 LMT exports, contracts for export of about 90 LMT have been signed, about 82 LMT sugar has been dispatched from sugar mills for export and approximately 78 LMT have been exported. Export of sugar in current sugar season 2021-22 is the historically highest,” Subodh Singh, Joint Secretary, Food, told media persons.

About 80 per cent of sugar is produced in Maharashtra, Uttar Pradesh and Karnataka and because the two states south of Narmada are nearer to the ports, export takes place more from these states.

Earlier, late last night, the government has restricted sugar export up to 100 LMT from June 1 till October 31, 2022 with a view to maintain the domestic availability and price stability during the sugar season 2021-22 (October-September).

Meanwhile, the latest move comes days after banning the export of wheat in order to control rising inflation and to ensure availability in the domestic market.

India’s retail inflation has been above RBI’s tolerance band for the fourth straight month in April, and is likely to continue in the coming months too.

The upper limit for sugar exports has been kept at 10 million tonnes for the marketing season ending October 31, the government said late on Tuesday night.

Notably, India is the second largest exporter of the sweetener.

Besides, on Tuesday the Centre allowed the import of a quantity of 20 lakh tonnes each of crude soyabean oil and crude sunflower oil per year for a period of two years at zero customs duty and Agricultural Infrastructure and Development Cess.

It is important to note here that India fulfills a major portion of its edible oil requirements through imports.

The ongoing war in Ukraine has led to a short supply of sunflower oil as both the countries involved in the war are major producers of sunflower oil.

Further, during the weekend the government reduced excise duties on petrol and diesel, reduced import duties on some raw materials needed for steel production and announced subsidies for Ujjwala gas beneficiaries.

ALSO READ: India’s Myanmar dilemma

Previous Story

Mobile internet suspended in Kashmir Valley

Next Story

Gaurav Gupta’s global fashion magic at Cannes

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

Akhilesh to contest from Karhal in Mainpuri

Karhal has over 1.44 lakh Yadav voters and is considered

UAE Welcomes India’s Operation Sindoor Delegation

The campaign is aimed at exposing Pakistan’s role in fostering