The Indian Sugar Mills’ Association (ISMA) predicts a 10% decline in India's gross sugar production for the 2023-24 marketing year, reaching 330.5 lakh tonnes. The expected reduction is primarily attributed to lower output forecasts in Maharashtra and Karnataka, while Uttar Pradesh may see a marginal increase. The government has permitted sugar diversion of only 17 lakh tonnes for ethanol production, indicating a net sugar production of around 313.5 lakh tonnes. ISMA believes the government might approve an additional 18 lakh tonnes of sugar diversion for ethanol production in the current Ethanol Supply Year, ensuring sufficient closing stocks for approximately three months into the next season. From October to January of the 2023-24 marketing year, 187.2 lakh tonnes of sugar were produced, compared to approximately 195 lakh tonnes in the corresponding period of the previous year.
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