Sugar Sector

Maharashtra and Gujarat are among the states where a significant portion of the sugar production is through cooperatives

With a high differential in pricing vis-a-vis normal plastics, and backed by a generous Uttar Pradesh policy, sugar producers eye new opportunities in the climate-friendly product

Key players in the sector, including Shree Renuka Sugars, Dhampur Sugars, and Balrampur Chini Mills, were among the top gainers.

sugar mills and distilleries can produce ethanol from sugarcane juice/sugar syrup, B-Heavy molasses, as well as C-Heavy molasses, during ESY2024-25 as per their agreements with oil marketing companies

Raw sugar commands a higher price than refined sugar and could boost revenue in the market

Joint meeting of all associations to be convened to form a common response before September deadline

Sugar stocks, Ethanol price hike news: The price revision is being considered on priority to incentivise production and meet our blending goals, reports said

The government on Monday ruled out possibility of allowing sugar exports in the current 2023-24 season ending October, the industry's persistent demand notwithstanding. Currently, there are curbs on export of sugar for an indefinite period. However, Indian Sugar Mills Association (ISMA) has requested the government to allow export of 10 lakh tonne of sugar in the 2023-24 season, anticipating healthy closing stock by the season-end. "As of now, the government is not considering sugar exports although the industry has demanded," a senior food ministry official told PTI. The country's sugar production crossed 30 million tonne till March of the ongoing 2023-24 season. ISMA has revised net sugar production estimate for 2023-24 season to 32 million tonne. The government has estimated sugar output at 31.5-32 million tonne. Meanwhile, the government is considering allowing sugar mills to use excess stock of B-heavy molasses for ethanol production this year.

The counter has seen heavy volumes of around 4.06 lakh shares as against the two-week average volume of around 1.46 lakh shares on the BSE.

The company reported a loss after tax of Rs 13.59 crore ($1.64 million) in the quarter ended Dec. 31, compared to a profit after tax of Rs15.78 crore a year ago

India's agri export basket is dependent on just five commodities including rice and sugar and this makes the sector vulnerable to fluctuations in global prices and demand, a report by economic think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said these five products -- basmati rice, non-basmati rice, sugar, spices, and oil meals -- account for 51.5 per cent of India's total agriculture exports. Furthermore, India grapples with various domestic challenges including infrastructural deficits, quality control issues, and non-tariff barriers, all of which impede the growth and competitiveness of its agricultural sector, it said. "This makes them (agri exports) vulnerable to fluctuations in global prices and demand," it said, adding these commodities also face frequent export bans in India. At present export of non-basmati rice is currently banned from India and India is also fighting at the WTO (World Trade Organisation) to protect subsidies to rice and wheat

India's sugar production fell 11 per cent year-on-year to 74.05 lakh tonnes during the October 1-December 15 period of the current marketing year, mainly due to lower output in Maharashtra and Karnataka, according to industry body ISMA. The sugar marketing year runs from October to September. In a statement, the Indian Sugar Mills Association (ISMA) said that the sugar production till December 15 in the current 2023-24 marketing year reached 74.05 lakh tonnes against 82.95 lakh tonnes in the corresponding period of the previous year. The number of operating factories stood unchanged year-on-year at 497. "Notably, this year sugar factories in Maharashtra and Karnataka started around 10-15 days later compared to the last year," ISMA said. In Uttar Pradesh, sugar production has increased to 22.11 lakh tonnes till December 15 of the 2023-24 marketing year compared to 20.26 lakh tonnes in the year-ago period. However, the sugar output declined in Maharashtra to 24.45 lakh tonnes from

The central government has directed all sugar mills not to use sugarcane juice or syrup for making ethanol in 2023-24 season, as the sugar production expected to be down in this year.

Magadh Sugar & Energy, Avadh Sugar & Energy, Uttam Sugar Mills and Dalmia Bharat Sugar and Industries rallied in the range of 10 per cent to 13 per cent on the BSE in Thursday's intra-day trade.

Their assumption is based on the sugarcane crushing that has taken place in major growing states in the first month and half of the 2023-24 new season

According to CRISIL, despite reduced exports and a decline in ethanol production, Ebitda margins of MSMEs in the sugar industry are projected to increase in the upcoming quarters

Stocks to watch on Oct 17, 2023: HDFC Bank reported a 50 per cent jump in net in its first results after merger with HDFC; Jio Financial posted 100 per cent growth in net post demerger from Reliance.

Analysts expect lower output to keep sugar prices elevated at least for the next year, driving gains for the sector

The Centre on Thursday directed sugar traders, retailers, wholesalers, big chain retailers and processors to disclose their stocks on a weekly basis on a government portal as a proactive measure to combat hoarding and speculation. The food ministry, in a statement, said the country has sufficient stocks for domestic consumption with absolutely no shortage for festivals. The government has been successfully maintaining the stable retail price of sugar in the country, it noted. However, as a proactive measure to "combat hoarding and curb unscrupulous speculation" in the sugar market, the ministry has issued orders to mandatory disclose stock positions for traders, wholesalers, retailers, big chain retailers and processors of sugar on the portal (https://esugar.nic.in) on every Monday, it added. "This mandatory weekly stock disclosure for these entities is another proactive step in the Government of India's efforts to maintain a balanced and fair sugar market," the ministry said. By

This comes even as there could be a deficit globally