India Revises 2025-26 Sugar Production Estimate Down 5.57% on Yield Concerns

India's sugar production for the 2025-26 marketing year has been revised down by 5.57% to 32.40 million tonnes, according to the Indian Sugar Mills Association (ISMA), due to lower yields in major producing states Maharashtra and Uttar Pradesh. Despite the reduction, output remains above last year's 29.62 million tonnes. After diverting 3.1 million tonnes for ethanol, net availability is projected at 29.3 million tonnes, exceeding domestic consumption. ISMA forecasts exports of 700,000 tonnes and closing stocks of 5.3 million tonnes, with improved planting expected for 2026-27.