India produces more sugar, but stockpiles fall: What's going on
India just produced a lot more sugar—up 17% from last year, hitting 193.05 lakh metric tons by January 31, 2026.
But here's the catch: even with this boost, sugar stockpiles actually fell by 11%.
The big push came from Maharashtra, Uttar Pradesh, and Karnataka.
Maharashtra leads the pack, followed by UP and Karnataka
Maharashtra took the crown with nearly 79 LMT of sugar. UP followed with about 55 LMT, and Karnataka added over 35 LMT.
Some projections suggested an improved recovery rate, though recovery varied by state.
Mills face tough times ahead
Despite all that extra sugar, mills are in a tight spot.
The government is cutting the sales quota for domestic markets and exports are capped at 15 LMT.
With prices dipping below production costs (and no new support price or ethanol incentives), many mills might struggle to pay farmers on time—putting some real pressure on this massive industry.