Industry body Indian Sugar Mills Association (ISMA) now revised its sugar production estimate for 2022-23 downwards by 6.84% over its prior estimate issued in October. It has now pegged the country’s honey production at 340 lakh tonnes after considering the diversion of 45 lakh tonnes of sugar for the production of ethanol, down by 25 lakh tonnes from its preceding estimate of 365 lakh tonnes.
ISMA has thought that it has revised the production estimate based on the satellite images of gathered and balance area, field visits, the current trend of yields, and sugar recoveries attained till now, as also expected yield/sugar recovery in the equilibrium period of the sugar season.
According to ISMA, the zone planted under sugarcane in the country has increased by 6%. In its October estimate, subsequently considering the diversion of 45 lakh tonnes to ethanol, ISMA had hung the sugar production at 365 lakh tonnes. However, on Tuesday, ISMA revised the production estimate downwards to 340 lakh tonnes. “Post-change of 45 lakh tonne to ethanol due to alteration of cane juice/syrup and B-molasses to ethanol, ISMA guesses sugar production in 2022-23 at around 340 lakh tonnes of sugar,” said ISMA in a statement.