Sugar News

Pvt sugar mill owners threaten closure

22-Sep-2018

Gurdaspur,September 21
 
Owners of all seven private sugar mills in the state have passed a resolution, threatening to shut down their business when the cane crushing season starts in November, if the state government does not lessen their burden by announcing a compensation of Rs 55 per quintal to farmers for the 2017-18 season.
 
Senior officials claimed that the development was sure to make the government jittery due to the possibility of unrest among farmers.
 
A meeting of the Punjab Sugar Mill Owners’ Association ...

Sugar prices plunge on bumper stock, weak demand

22-Sep-2018

New Delhi, Sep 21 () Sugar prices dropped by Rs 100 per quintal at the wholesale market in the national capital Friday following muted demand amid bumper stock.
 
Marketmen said apart from weak demand from stockists and bulk consumers, bloated stocks position on regular supplies from mills, mainly pulled down sweetener prices.
 
Sugar production is estimated to have touched a record 32 million tonnes in the 2017-18 season (October-September), as against 20.3 million tonnes in the previous year.
 
Sugar mill delivery M-30 and S-30 ...

Buy Balrampur Chini Mills, target Rs 98- Kunal Bothra

21-Sep-2018

New Delhi, Sep 21 () Sugar prices dropped by Rs 100 per quintal at the wholesale market in the national capital Friday following muted demand amid bumper stock.
Marketmen said apart from weak demand from stockists and bulk consumers, bloated stocks position on regular supplies from mills, mainly pulled down sweetener prices.
Sugar production is estimated to have touched a record 32 million tonnes in the 2017-18 season (October-September), as against 20.3 million tonnes in the previous year.
Sugar mill delivery M-30 and S-30 prices tumbled down by Rs 100 each ...

Sugar stocks fall after competition watchdog imposes penalty

21-Sep-2018

Shares of Bajaj Hindusthan Sugar, Dalmia Bharat Sugar and Industries and Balrampur Chini Mills plunged as much as 3.2 per cent-9.1 per cent. 
Competition Commission Of India (CCI) on Thursday imposed a penalty of Rs 380.5 million ($5.29 million) on sugar mills and their associations for rigging bids in respect of joint tender floated by oil marketing cos for procurement of ethanol for blending with petrol. 
Bajaj Hindusthan said after market hours on Wednesday CCI imposed a penalty of Rs 123.5 million. The company said it will appeal against the order. 

Maharashtra mills seek mandatory raw sugar production

21-Sep-2018

With a bumper cane production expected during 2018-19 kharif season, the Western India Sugar Mills Association ( WISMA) — a body of private sugar mills, has urged the government of Maharashtra to make the production of raw sugar mandatory for all sugar mills in the state for the first two months to overcome the problem of excess production of whites.

Uttar Pradesh govt uncovers fake bonds of 1.5 million tonnes of sugarcane

20-Sep-2018

In its ongoing campaign to weed out the ‘sugarcane mafia’, the Uttar Pradesh government has uncovered fake bonds of almost 1.5 million tonnes (MT) of sugarcane, even as the next crushing season is fast approaching.
 
The sugarcane mafia operates by registering as bona fide farmers with sugarcane/mill societies. During crushing season, they procure cane from small farmers at cheaper rates and resell it to mills at a much higher government determined rates known as the state advised price (SAP).
 
 
According to UP sugarcane and sugar commissioner Sanjay ...

USGC asks India to allow ethanol imports to lower crude oil import bill

20-Sep-2018

Allowing imports of ethanol can help lower the country’s crude oil import bill, according to the US Grains Council, a global biofuel promoting organisation.
 
“To reduce the price of petrol and reduce the nation’s energy import bill and save foreign exchange, India should immediately focus on achieving a 10 per cent ethanol blend across the country. This can be accomplished by supplementing domestic production with ethanol imports to achieve the necessary blend rate on a consistent basis,” said Mike Dwyer, Chief Economist at the US Grains Council.
 
At present, the ...

Sugar Mills Will Be Under Lot Of Pressure - Siraj Hussain, Former Secretary Of Agriculture

20-Sep-2018

"A substantial increase in domestic production of sugar in 2017-18 and crash of global prices of sugar have caused a glut of sugar in the domestic market," said Siraj
The Cabinet Committee on economic affairs is expected to take series of decisions related to sugarcane farmers and export relaxations on sugar. This may be another landmark announcement by Indian government post raising MSP’s. Is it a desperate measure to relieve stressed sugarcane farmers’? What will be the possible outcomes of the decision? BW Businessworld speaks to Siraj Hussain, Former Secretary of Agriculture Govt. of ...

Cabinet defers sugar package

20-Sep-2018

The Union Cabinet did not consider on Wednesday the Rs 4,500 crore plan to more than double the production assistance paid to sugarcane farmers and transport subsidy to sugar exporting mills, sources said.
The Cabinet Committee on Economic Affairs (CCEA) may take up the Food Ministry’s proposal next week, they added.
The ministry has proposed sharp increase in production assistance to farmers to Rs 13.88 per quintal for 2018-19 marketing year (October-September) from Rs 5.5 at present.
The proposal to raise production assistance and transport subsidy of up ...

MAHARASHTRA SUGAR OUTPUT LIKELY TO BE 10% BELOW ESTIMATES

20-Sep-2018

Maharashtra’s sugar production is likely to be 10% lower in the 2018-19 season than the earlier estimates of the government and industry owing to deficient rainfall and incidence of white grub, which are expected to reduce per hectare sugarcane productivity.
“The overall sugar production of the state can decline 10% than estimated earlier. It will go below 100 lakh tonnes,” said BB Thombre, president, Western Indian Sugar Mills Association (WISMA). “Production of sugarcane in Marathwada, Solapur, Ahmednagar and Khandesh areas will decline 15-20% due to insufficient rainfall.”
The Indian Sugar Mills ...

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