India produced over 5000 LMT of sugar; world second largest exporter

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India produced over 5000 LMT of sugar; world second largest exporter

India has emerged as the world's largest producer and consumer of sugar and the world's second largest exporter of sugar by producing more than 5000 Lakh Metric Tonne LMT sugarcane. Out of the total produce, 3574 LMT of sugarcane was crushed by sugar mills to produce approximately 394 LMT of sugar Sucrose. 35 LMT sugar was transferred to ethanol production and 359 LMT sugar was produced by sugar mills.

The sugar season broke all records of sugar production, sugar production, sugar exports, cane procured, cane dues paid and ethanol production during the season, according to a statement issued by the Ministry of Consumer Affairs, Food Public Distribution.

India also recorded its highest exports of about 109.8 LMT with no financial assistance, which was extended up to 2020 -- 21. This feat of Indian Sugar Industry was led by international prices and Indian Government Policy. The notification stated that the foreign currency earned about 40,000 crore for the country.

The ministry stated that this is the result of synchronous and collaborative efforts by the Centre and the state governments, farmers, sugar mills, ethanol distilleries with very supportive overall ecosystem for business in the country. Since last five years, timely government interventions have been crucial in building up the sugar sector step-by-step from financial distress in 2018 -- 19 to the stage of self-sufficiency in 2021 -- 22. Sugar mills procured sugarcane for more than 1.18 lakh crore during the sugar season 2021 -- 22 and released payment of more than 1.12 lakh crore with no financial assistance from the Centre. At the end of the sugar season, cane dues were less than Rs 6,000 crore, indicating that 95 per cent of cane dues have already been cleared. More than 99.9 per cent of cane dues are cleared for SS 2020 -- 21.

Ethanol growth as a biofuel has led to better financial positions of sugar mills in the last five years due to faster payments, reduced working capital requirements and less blockade of funds due to less surplus sugar with mills the ministry has noted.