The Indian Sugar Mills Association (ISMA) on Friday slashed the total sugar production estimate for the ongoing 2010-11 sugar year by 8 lakh tonnes to 242 lakh tonnes.
At the beginning of the current sugar year (October-September), ISMA had projected the total sugar output at 255 lakh tonnes, but the forecast was later revised downward to 250 lakh tonnes.
“Our figure for 2010-11 stands at 242 lakh tonnes,” ISMA spokesperson said, adding this is the final estimate.
The production figures for sugar were finalised at the organisation’s internal meeting in Bangalore today. The latest ISMA figure is lower than the government’s estimate of sugar production in 2010-11 at 245 lakh tonnes.
Production in India, the world’s second biggest sugar producer and the largest consumer, is expected to rebound this year after a gap of two years. In 2009-10, production was around 190 lakh tonnes. The country’s annual demand is pegged at 220 lakh tonnes.