After months of uncertainty, the sugar sector is once again looking up. Thanks to a revision in the production estimates in the current season and a positive outlook for the forthcoming one that will start in October, the sugar supply situation looks comfortable.
Trade and market sources say Sugar Year (SY) 2023-24 will end this month with closing stocks of 8-9 million tonnes, which would be significantly higher than the 2022-23 season’s closing stocks of 5.7 million tonnes.
As a result, the country will start the 2024-25 sugar season with nearly 58 per cent more stocks than last year,
