Sugar News

Second year in a row, Maharashtra crosses highest sugar production mark

21-Apr-2019

THE STATE has once again crossed 107 lakh tonnes (lt) in terms of sugar production by the end of the crushing season of 2018-19, making this the second consecutive season when mills have crossed this figure, which is the highest ever sugar produced in the state in the last 10 years.
 
As of Friday, of the 195 mills, only five are operational. The state has witnessed crushing of 951.64 lt of cane and produced 107.07 lt of sugar. As expected, Kolhapur region, with Kolhapur and Sangli districts, has recorded the highest sugar production at ...

Indian mills contract to export 27 lakh tonnes of sugar, says trade body

21-Apr-2019

Indian sugar mills have contracted to export 27 lakh tonnes of sugar since the current season began on October 1, a leading trade body said on Thursday.
 
Mills have already shipped out 17 lakh tonnes of the sweetener, Praful Vithalani, president of the All India Sugar Trade Association, said.
 
Indian mills have sold nearly an equal quantity of raw and refined, or white sugar, for which the top destinations are Bangladesh, Sri Lanka, Somalia, Iran and Sudan, Vithalani said.
 
India, the world's biggest sugar consumer, late ...

Sugar technologists seek hike in MSP to Rs 3,600 per quintal

20-Apr-2019

The Sugar Technologists Association of India ( STAI) has suggested that the government should set the minimum support price (MSP) for the sweetener to Rs 3,600 per quintal from Rs 3,100 per quintal to help millers overcome the financial crisis.
 
“I think if the government sets the MSP to `3,600, the industry would be able to overcome most of its hurdles. When the maximum retail prices of `42-`44 were digestible to the government as well as the consumers a few years ago, a hike in MSP would not harm any consumer,” he said. The ...

Supreme Court warns UP cane commissioner over non-payment of dues to Bajaj Hindusthan

19-Apr-2019

The Supreme Court has sought response from Uttar Pradesh cane commissioner Sanjay Bhoosreddy as to why contempt proceedings should not be initiated against him for “intentional and deliberate violation and wilful disobedience” of its earlier order that asked him to clear dues of
over Rs 1,471 crore to Bajaj Hindusthan Sugar.
 
A Bench led by Justice RF Nariman sought explanation from Bhoosreddy, who is the principal secretary (sugar) as well as the cane commissioner of UP on a contempt petition filed by Bajaj Hindusthan.
 
The cane commissioner is ...

Vigilance officials raid sugar, liquor factories, seize rice, urea

19-Apr-2019

Wanaparthy: In a raid conducted on NSL Krishnaveni sugar factory at Appala village in Kottakota mandal and ABD liquor factory at Srirangapur village of Pebbair mandal on Wednesday, the Vigilance and Enforcement officials have seized 142 quintals of PDS rice, 80 bags of urea, 44 bags of DAP, which were stocked illegally on the premises of the factories. According to Assistant Station Officer (ASO) Rajender, who headed the Vigilance and Enforcement team from Hyderabad, said that these factories which were involved in the manufacture of liquor were allegedly mixing urea as an ingredient to manufacture adultered liquor. 
...

Private sugar mills to take legal action over Maharashtra govt’s refusal to provide grant

18-Apr-2019

Private sugar millers in the state have decided to take legal action against the state government for failing to extend subvention owed to them under a central government scheme.
 
President of the West Indian Sugar Mills Association (WISMA) Bhairavnath B Thombare said the total cumulative interest the state government owes to the mills is around Rs 550 crore.
 
In 2014-15, the central government had come up with a soft loan scheme for the sugar sector given the drastic fall in sugar prices.
 
Mills had defaulted in ...

Maharashtra- Sugar commissionerate to slap showcause notice on 8 mills for selling beyond quota

17-Apr-2019

The sugar commissioner’s office is likely to issue showcause notices to eight mills in Maharashtra for carrying out sales beyond their monthly quota. Sources in the sugar commissioner’s office said they are planning to recommend action, which may include reduction of sales quota and barring such mills from government benefits like the soft loan scheme.
 
An audit of the sales quota of 10 mills in the state, which were suspected of underselling their sugar stock at a price lower than the Minimum Selling Price (MSP), has revealed that none of them have actually undersold ...

Lok Sabha election 2019- Bitter battle brewing in Maharashtra sugar belt

17-Apr-2019

The Congress and Nationalist Congress Party (NCP) satraps have dominated local bodies, the sugar and milk cooperatives, and the educational and financial institutions in the sugar belt of western Maharashtra. However, since 2014, the BJP-Shiv Sena combine has made inroads in the region, not by creating its own base, but by importing Congress-NCP leaders into their fold.
 
The BJP-Sena managed to win five out of ten seats in 2014 Lok Sabha polls, while NCP won four seats. Swabhimani Shetkari Sanghatana (SSS) which was with the BJP-Sena alliance in last polls won one seat. ...

In Maharashtra, The Political Cost Of BJP's Newly-Minted Sugar Barons

17-Apr-2019

AHMEDNAGAR: On Wednesday, Maharashtra Chief Minister Devendra Fadnavis flew into Ahmednagar in western Maharashtra to hold a rally in support the BJP's candidate, Sujay Vikhe-Patil.
"A vote for Sujay will be a vote for (Prime Minister) Narendra Modi," Mr Fadnavis said.
 
Mr Vikhe-Patil, the son of Radhakrishna Vikhe-Patil, the Congress party's leader of opposition in Maharashtra, was with the Congress recently. His crossing sides to the BJP sent shockwaves through the political establishment.
 
Sujay Vikhe-Patil is a big catch for the BJP, not just for his father's stature: ...

Small and medium sugar millers' margins will get sweeter- CRISIL

16-Apr-2019

Small and medium sugar mills will see a marked improvement in profitability because of the hike in the minimum support price (MSP) for sugar and other government measures.
 
The central government raised the MSP from Rs 29 per kg to Rs 31 in February 2019 and sanctioned soft loans of Rs 10,540 crore to help mills repay their cane debt. Consequently, their EBITDA margins should move to a positive trajectory of one to two per cent, from the previous forecast of negative five to seven per cent for sugar season (SS) 2019 (October 2018-September ...

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