Sugar News

It's a Bitter End for Sugar as Investors Line Up for 2019 Losses

17-Dec-2018

(Bloomberg) -- Sugar is ending 2018 on a bitter note on signs that a price collapse could get even worse next year.
 
Futures have slumped 17 percent this year, a second straight annual loss, as booming global production sparked a supply glut. The one thing that kept the rout from being even deeper: robust demand for ethanol in Brazil, the world’s biggest sugar grower and exporter. But now that backstop looks like it’s going away.
 
Cane millers can turn crops into either sweetener or biofuel. For a lot of 2018, ...

Maharashtra sugar industry demands Rs 500-crore package

17-Dec-2018

Pune: As sugarcane price arrears have started mounting in Maharashtra, the sugar industry in the state has demanded a package of Rs 500 crore to clear the legally binding fair and remunerative price (FRP) payments for the ongoing 2018-19 crushing season. 
 
Declining domestic sugar prices coupled with slower pace of exports are likely to increase the arrears and add to the simmering farm distress in the country, according to industry executives and experts.
“Not only the prices have declined but there seems no scope that they will improve in future,” said former ...

4 Dead, 3 Injured After Boiler Blast Rocks Karnataka Sugar Factory Owned By BJP MLA

17-Dec-2018

Bengaluru: Four workers were killed and three injured after a boiler exploded in a sugar factory in Mudhol in Karnataka’s Bagalkote district. 
 
Seven workers were inside when an explosion rocked the factory premises. While three died on the spot, one succumbed to injuries in the hospital.
The sugar factory is a unit under the Nirani Sugars Limited, owned by the Nirani brothers — BJP MLA Murugesh Nirani and his brothers Sangamesh and Hanumantha.
 
Speaking to News18, Murugesh Nirani said the explosion occurred in a treatment plant which is ...

Government warns of action against sugar mills over slow exports

15-Dec-2018

The government has warned mills to speed up sugar exports to achieve the 5 million tonnes annual target fixed for the current season (October 2018 – September 2019).
 
Despite incentives offered for exports, sugar mills have contracted for a mere 600,000 tonnes of sugar exports and shipped around 179,000 tonnes for the quarter between October and December 2018. Additionally, around 80,000 tonnes of the sweetener is kept at various ports for loading for the quarter ending December 2018. This means, total quantity of export stands at a negligible 260,000 tonnes for the October – ...

Government advises sugar mills to accelerate sugar export

15-Dec-2018

Aims to improve mills liquidity position and facilitate clearance of farmers arrears
 
In view of huge carryover stock and estimation of excess production of sugar in the current sugar season 2018-19 (October-September) and in order to improve the liquidity of the sugar mills to facilitate them for clearance of cane price arrears of farmers, the Central Government has fixed export targets by allocating mill-wise Minimum Indicative Export Quotas (MIEQ) of 50 LMT of sugar for export in current sugar season 2018-19.
However, it has been observed that the sugar mills are not ...

Maharashtra sugar millers bet big on beet to keep machines running year-round

15-Dec-2018

Sugar millers from Maharashtra are attempting to promote the cultivation of beet for sugar production for the first time. The objective is to ensure that the plant and machinery which lies idle for a better part of the year is effectively utilised and both sugar factories and farmers get an alternate revenue stream.
 
The effort is spearheaded by Vasantdada Sugar Institute (VSI) which is headed by former union agriculture minister Sharad Pawar and Baramati Agro, an agro-based firm owned by his family. VSI has planned to make a detailed presentation before the General Body ...

Task force set up to find solutions for sugar industry

14-Dec-2018

To reduce burden on the exchequer due to over-production of sugar, Niti Aayog has constituted a task force to suggest long-term solutions such as crop diversification to reduce adverse impact on ground water and aligning sugar industry with global markets.
 
The 13-member panel, which will be headed by Niti Aayog member Ramesh Chand, includes secretaries of food, agriculture, expenditure, commerce, petroleum and environment. The panel will suggest long-term solutions to the problems faced by the sugarcane farmers and measures for rationalising the sugar economy.
 
“The Centre can’t continue to give ...

Sri Lanka emerges the largest sugar importer from India- UAE distant second

14-Dec-2018

Sri Lanka has emerged as the largest sugar importer by contributing nearly half of India’s total sweetener exports during the current season beginning October 2018.
 
Data compiled by the apex industry body All India Sugar Trade Association (AISTA) shows India’s total sugar exports to Sri Lanka at 84,536.90 tonnes. With 16,801 tonnes and 15,340 tonnes, United Arab Emirates and Somalia have become the second and third largest importer of Indian sugar, respectively. Total exports between October 1 and December 5, 2018 stands at 179,849 tonnes.
 
 
“Apart from this, ...

Cooperative Sugar mills in Haryana produce 3.34L quintals of sugar

13-Dec-2018

The cooperative sugar mills in Haryana have so far produced over 3.34 lakh quintals of sugar by crushing 43.95 lakh quintals of sugarcane during the current crushing season.
 
A spokesman of Haryana State Federation of Cooperative Sugar Mills said that the Cooperative Sugar Mill, Rohtak has produced a maximum of 63,400 quintals of sugar by crushing 8.58 lakh quintals of sugarcane. Cooperative Sugar Mill, Shahabad has produced 58,800 quintals of sugar by crushing 7.53 lakh quintals of sugarcane, followed by Cooperative Sugar Mill, Karnal, which has produced 46,210 quintals of sugar by crushing 5.57 ...

Sugar package purely domestic issue, not distorted global trade- Govt

13-Dec-2018

India has informed the WTO that its sugar package is purely a domestic issue and has not distorted international trade in the commodity, the government said Wednesday.
 
A number of questions on India's sugar policies have been raised in the WTO Committee on Agriculture from time to time by various members including the EU, Australia, New Zealand, Brazil, Canada and Russia, Union Minister C R Chaudhary said in a written reply to the Rajya Sabha.
 
 
He said that recently, Australia submitted a communication to WTO on India's measures ...

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