India's sugar price has improved considerably in the past three months, rising 15.9 percent from a low spot price of $466.20/MT in Kolhapur (Maharashtra) on 12 January to $540.37/MT on 31 March. Meanwhile, the sugarcane crop forecast has implications for domestic ethanol production. Lower Sugar Production, Higher Prices As a result of two consecutive years of drought, India’s sugar production is expected to drop 9 percent from a record 27.84 MMT in 2014/15 to 25.6-25.7 MMT in 2015/16. According to the Indian Sugar Mills Association (ISMA), the volume totaled 23.7 MMT as of 31 March 2016 and from the beginning of sugar year 2015/16 (1 October 2015) or about 1.1 MMT less than at the same time last year. Additional production is expected to...