SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

ISMA revises sugar production estimate to 340 lakh tonnes for 2023-24 marketing year

14 Mar 2024 Evaluate

Sugar industry body -- Indian Sugar Mills Association (ISMA) has revised its all-India sugar production estimate for 2023-24 (before diversion into ethanol) by 9.5 lakh tonnes to 340 lakh tonnes in the marketing year ending September. In January, ISMA had projected the gross sugar production, without any diversion for ethanol, at 330.5 lakh tonnes in 2023-24 marketing year (October-September). It said the gross sugar production is now estimated at 340 lakh tonnes in 2023-24, as against the gross output of 366.2 lakh tonnes in the previous year.

The executive Committee of ISMA in its meeting noted the sugar recovery, cane yield, remaining harvestable area / sugarcane and expected dates of closure of factories in different States. The panel agreed that sugarcane availability in Maharashtra and Karnataka is higher than expected. However, cane availability in another major state, Uttar Pradesh, is predicted to be lower than earlier estimates. 

The net sugar production stood at 328.2 lakh tonnes during 2022-23 marketing year with a diversion of 38 lakh tonnes of sweetener for ethanol-making from sugarcane juice and B-heavy molasses. For the current 2023-24, the government has so far allowed sugar diversion of only 17 lakh tonnes for production of ethanol via sugarcane juice/B-heavy molasses. This would mean net sugar production could be around 323 lakh tonnes. ISMA said the net sugar production (after diversion for ethanol) stood at 255.5 lakh tonnes up to February 29 of 2023-24 marketing year. As many as 466 sugar mills are still operating in the country.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×