Sugar surplus to continue despite downward revision in production

Bumper production is likely to result in a sugar surplus scenario in the domestic market 
in the sugar year 2019, an Icra report said

Sugar production would be higher by 5.8-6.3 million tonne

31.5-32 mt – Revised sugar production estimates

35 mt – Output estimated in July

10.5-11 mt – Opening stock

42-42.6 mt – Likely overall sugar availability

An uptick in the recent global sugar prices, rupee depreciation and higher production subsidy could expedite exports. Further, the downward revision in the production estimates may likely support domestic sugar prices to some extent in the near term," 
Sabyasachi Majumdar, senior VP & group head, Icra Ratings