Sugar News

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. 
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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 ...

India Sugar- Steady across India ahead of weekend, rises on ICE

13-Apr-2019

Friday, Apr 12

By Preeti Bhagat
NEW DELHI – Prices of medium-grade sugar were flat across the country today, ahead of the weekend due to muted trading activity, traders said.
 
"Mills have no confidence that prices will rise as people are buying based on their day-to-day need. Market is seen more or less range bound until selling pressure builds towards the end of the month," said Naresh Gupta, a Delhi-based trader.
 
The future ...

Sugar Mill Machinery Market Competition Dynamics In Forecast Period

12-Apr-2019

Sugar Mill Machinery Market: Introduction
 
Sugar mill is a sugar refinery that processes the sugarcane to produce the raw sugar. Sugar Mill Machinery are the equipment that are utilized in sugar plants for various type of operations such as processing, refining, cane handling, grinding and packaging, among others. There are two types of sugar refineries back end refineries and front end refineries. In front end refineries, raw sugar is produced from sugarcane which is processed under various operations including cutting, shredding, milling or diffusion, crystallization, sugar drying and packaging. In back end refineries, raw ...

India Sugar- Rises in Kolhapur on summer demand, steady in Delhi

12-Apr-2019

NEW DELHI – Prices of medium-grade sugar were up 30 rupees per kg in Kolhapur, Maharashtra, today due to demand during the summer from Gujarat and Rajasthan, traders said. Meanwhile, prices were steady in Delhi and Mumbai due to demand-supply parity.

"It seems that prices will remain flat for sometime now due to the ongoing elections, and since mills are selling at discount to minimum selling price of 31 rupees per kg because everyone wants to dispose their excess stocks," said an official with Bombay Sugar Merchants' Association.
 

Maharashtra sugar mills seek clarity from RBI on soft loan norms

12-Apr-2019

The Maharashtra State Cooperative Sugar Factories Federation (MSCFF) has sought clarity in guidelines from the Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (Nabard) for the utilisation of the Centre’s scheme for a soft loan of Rs 10,540 crore.
 
The Centre had recently announced a soft loan of Rs 10,540 crore for payment of Fair and Remunerative Price (FRP) in the sugar season of 2019-2020.
 
In a representation to the government, the federation pointed out that bottlenecks continue to be hindrance for implementing the scheme, ...

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