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Sugar production likely to touch 27 million tonnes

Sugar production likely to touch 27 million tonnes
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First Published: Tue, May 22 2007. 06 16 PM IST
Updated: Tue, May 22 2007. 06 16 PM IST
New Delhi: Sugar production of India, the world’s second largest producer after Brazil, is all set to touch 27 million tonnes in 2006-07 season with output already crossing 26 million tonnes till 15 May.
“The sugar production is likely to be around 27 million tonnes in this sugar year,” National Federation of Cooperative Sugar Factories Managing Director Vinay Kumar told PTI.
The sugar production in 2005-06 season stood at 19.3 million tonnes. Sugar year runs from October to September.Kumar said the production has reached to 26.1 million tonnes till 15 May.
Maharashtra and Uttar Pradesh would have a production of over eight million tonnes each, he added.
Traders said sugar output might touch 27 million tonnes level as another five months are available for crushing of canes.
Meanwhile, sugar futures in commodity markets today stayed back at yesterday level of Rs1,276 per quintal for the June contract at the leading agri commodity exchange NCDEX.
The June delivery yesterday fell by Rs9 a quintal to Rs1,276 a quintal, compared to Rs1,371 per quintal a month ago and Rs1,474 per quintal two months back.
Although international prices of sugar are higher, overseas buyers are offering 275 dollar per tonne to Indian sugar exporters, traders said.
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First Published: Tue, May 22 2007. 06 16 PM IST
More Topics: Money Matters | Commodities |