Amid rise in sugar production in Maharashtra and Karnataka, All India Sugar Trade Association (AISTA) has revised the country’s sugar production upward by 4,00,000 tonne to 32 million tonne for the 2023-24 season (October-September) from 31.6 million tonne estimated earlier. The estimated net domestic sugar production excludes the diversion of sucrose for ethanol production.
With an estimated sugar production of 32 million tonne and an opening stock of 5.7 million tonne, the availability of sugar in the country is likely to be 37.7 million tonne, which is higher than the estimated domestic consumption of 29 million tonne. In the previous 2022-23 season, sugar production was 32.9 million tonne.
Sugar production in Maharashtra is estimated to increase by 1.2 million tonne but decrease by almost the same 1.1 million tonne quantity in Uttar Pradesh. Similarly, the estimated decline of 3 million tonne in Tamil Nadu is likely to be compensated by a gain of 0.4 million tonne in Karnataka. In the remaining states, the production estimates are almost the same as the first estimates.
As per the second estimate, sugar production in Maharashtra -- the country’s largest sugar producing state is estimated to increase marginally to 10.8 million tonne for 2023-24 season, as against 10.7 million tonne in the previous season. However, sugar production in Uttar Pradesh -- the country’s second largest producing state is estimated to decline slightly to 10.6 million tonne from 10.7 million tonne last season. Similarly, in the country’s third largest sugar producing state of Karnataka, the production has been revised upward but still remains lower at 5.1 million tonne in 2023-24, as against 5.6 million tonne in the previous season.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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