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Care Ratings Research Report
As per the second advance estimates released by the Indian Sugar Mills Association, sugar output in India is expected to increase by 10.2% YoY to 30.2 million tonnes during the sugar season (October-September) 2020-21 on account of higher production in Maharashtra and Karnataka.
This estimate is after excluding sugar diversion of about two million tonnes towards ethanol production during the year.
During October 2020 - mid February 2021, sugar output in India increased by 22.9% to 20.9 million tonnes driven by 74% and 26.9% production growth in Maharashtra and Karnataka, respectively, backed by increased sugarcane area, better yields among others.
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