Weak monsoon will hit sugar output in India for the 2012-13 marketing year starting in October, reports Business Standard. According to the India’s Meteorological Department, monsoon which accounts for more than 70 percent of its annual rainfall, has been 19 percent below average since June 1. Major sugar producing states Maharashtra, Karnataka, Gujarat and Rajasthan are facing a drought-like situation. Kona Haque, an analyst at the Macquarie Group was reported by Bloomberg as stating India’s production will fall 8 percent to 24.2 million metric tons in 2012-13, after rising for three consecutive years. “Even if rainfall improves over the coming… Login to continue

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