In the year 2018 an upsurge in the production of sugar is seen in India. A total of around 5.3 million tonnes is estimated to be a part of the total production of sugar. The second biggest sugar producing state in India that is Maharashtra is expected to have a production as high as 10.6 million. But on the other hand Uttar Pradesh is expected to have a rise of on 2 million tonnes in comparison to the rise of the above.
In the globe it has been seen that the prices of sugar has fallen altogether from the last two years only even though India stopped the export of sugar. But now from the last month onwards with the starting of the exports of sugar again, the prices are again estimated to fall to a level that will actually touch a price which will be record breaking low for the globe.
Besides this it has been seen that India has put it mandatory to export a minimum of 2 million tonnes of sugar from each mill. As a result of this it has helped the mills to lower their inventories and support local prices.