India’s sugar production to be up 13% in 2017/18

Mumbai (Reuters): India’s sugar production is likely to rise to a record 29.5 million tons in the 2017/18 season, up nearly 13% from a previous estimate, as Maharashtra state’s output could more than double, a trade body said in a statement.

The higher-than-expected output could pressure local prices and force the world’s second-biggest sugar producer to remove a tax on exports to encourage overseas sales.