Sugar Prices

Many Maharashtra mills are struggling to get enough sugarcane, operating at half their capacity, and will likely close for the season by the end of this month

Although there had been speculation for weeks that exports would be allowed, the decision surprised some traders as this season's production is expected to fall below consumption

ISMA has also called for reducing the GST on flex-fuel vehicles to 5 per cent and differential pricing on ethanol

Delays in the crushing season, which is impacting key states like Maharashtra and Karnataka, are contributing to the drop in sugar prices, says ISMA president

The food ministry plans to revamp the nearly six-decade-old regulation regarding production, storage and pricing of sugar to align it with technological advancements. In this regard, the Ministry of Consumer Affairs, Food and Public Distribution has issued the draft 'The Sugar (Control) Order, 2024'. The ministry proposes to review the Sugar (Control) Order of 1966 due to the technological advancements in the production process. "...there are multiple changes in the sugar sector which necessitates the revamping of existing the Sugar (Control) Order, 1966," said the ministry while issuing the draft. The draft order details power the government to regulate production of sugar as well as restrict its sale, storage and disposal by producers and dealers. The ministry has invited stakeholders' comments on the draft by September 23. On power to regulate price of sugar, the draft says: "The Central Government shall, at the time of issuing any order regarding price of sugar for sale...tak

Sugar industry body ISMA on Wednesday revised its estimates for gross production of the sweetener by 9.5 lakh tonnes to 340 lakh tonnes in the marketing year ending September. In January, Indian Sugar Mills Association (ISMA) had projected the gross sugar production, without any diversion for ethanol, at 330.5 lakh tonnes in 2023-24 marketing year (October-September). In a statement, ISMA said the gross sugar production is now estimated at 340 lakh tonnes in 2023-24, as against the gross output of 366.2 lakh tonnes in the previous year. The executive Committee of ISMA in its meeting held on March 12, noted the sugar recovery, cane yield, remaining harvestable area / sugarcane and expected dates of closure of factories in different States. The panel agreed that sugarcane availability in Maharashtra and Karnataka is higher than expected. However, cane availability in another major state, Uttar Pradesh, is predicted to be lower than earlier estimates. "Accordingly, ISMA has revised

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 118.5 points in December, down 1.5% from November

Co-op sugar factories estimate full-year production to be 12% less in FY23-24

The government on Friday allowed sugar mills to use both cane juice and B-heavy molasses to produce ethanol but capped the diversion of sugar for the purpose at 17 lakh tonnes for the ongoing 2023-24 supply year. The latest decision comes a week after the government prohibited the use of sugarcane juice and sugar syrup for making ethanol, amid the industry seeking reversal of the decision. "The flexibility has been given to sugar mills for using both sugarcane juice and B-heavy within an overall cap of 17 lakh tonnes of diversion of sugar for making ethanol in the ongoing 2023-24 supply year (November-October)," Food Secretary Sanjeev Chopra told PTI. A committee of ministers took the decision during its meeting on Friday, he said. The decision has been taken amid representation received from the industry to review the December 7 order that banned use of cane juice and sugar syrup with immediate effect. It, however, had allowed supply of ethanol from existing offers received by Oi

Skyrocketing sugar prices left Ishaq Abdulraheem with few choices. Increasing the cost of bread would mean declining sales, so the Nigerian baker decided to cut his production by half. For scores of other bakers struggling to stay afloat while enduring higher costs for fuel and flour, the stratospheric sugar prices proved to be the last straw, and they closed for good. Sugar is needed to make bread, which is a staple for Nigeria's 210 million people, and for many who are struggling to put food on the table, it offers a cheap source of calories. Surging sugar prices an increase of 55 per cent in two months means fewer bakers and less bread. It is a very serious situation, Abdulraheem said. Sugar worldwide is trading at the highest prices since 2011, mainly due to lower global supplies after unusually dry weather damaged harvests in India and Thailand, the world's second- and third-largest exporters. This is just the latest hit for developing nations already coping with shortages

Additionally, the government is likely to extend the current restrictions on sugar exports indefinitely after October 31

The production in the 2023-24 sugar season, according to the current emerging consensus, is expected to be somewhere around 30-31 million tonnes

The reduced output could add to food inflation and discourage New Delhi from allowing sugar exports, supporting global prices which are already near their highest in more than a decade

Sugar prices are on a high with a fall in production primarily due to unseasonal showers in key growing areas of Maharashtra and Karnataka in March

Mills were getting more than Rs 50,000 ($604.6) per tonne from the overseas sale against the local price of 36,500 rupees, dealers said

Pakistan has been reeling under the flour crisis even at the time of Ramadan and the shortage continues

The government reportedly considering a blanket ban on exports to cool down prices

Govt plan follows less-than-expected production in 2022-23 season

Domestic sugar stocks may rally up to 25 per cent after crossing key hurdles

Sugar demand rises as consumption of cold drinks and ice cream climbs in India during the summer months that run roughly from April to June