India's cane crop to reach over 350 million tonnes

摘要

India could harvest a near-record 351 million tonnes of cane in the season from October, according to the average of forecasts in a Reuters poll. Half of the 12 respondents suggested India could match or even exceed the previous record of 355 million tonnes, set in 2006/07, with a median forecast of 354 million tonnes, the survey of leading traders, analysts and industry bodies showed. Excess supply from India will help push the global market to a surplus of about 6.34 million tonnes in 2011/12 according to the average in a Reuters survey conducted last month, helping also to depress prices. "Farmers are prepared to produce almost a record crop, thanks to good prices, good rains and no bad news such as pest attack," said Vinay Kumar, Managing Director of the National Federation of Co-operative Sugar Factories, which forecasts 355 million tonnes of output.