Prime Minister Narendra Modi's administration extended the ban on sugar exports for the second straight season, as India, also the world's biggest consumer of the sweetener
Sugar production declined 17 per cent to 61.39 lakh tonnes till December 15 of the current marketing year that started in October, mainly due to fall in output in Maharashtra, according to industry body ISMA. The production data excludes the diversion of sugar towards ethanol. Sugar production till December 15, 2024, in the current 2024-25 marketing year (October-September) reached 61.39 lakh tonnes as against 74.05 lakh tonnes in the corresponding period of the preceding year, Indian Sugar and Bio-Energy Manufacturers Association (ISMA) said in a statement. Notably, this year sugar factories in Karnataka started late by around 7-12 days while in another major state Maharashtra, mills started late by 1520 days, as compared to last year. As per the data, sugar production in Uttar Pradesh increased to 23.04 lakh tonnes from 22.11 lakh tonnes. In Maharashtra, the output declined 16.78 lakh tonnes from 24.45 lakh tonnes. Karnataka saw a decline in sugar production to 13.85 lakh tonne
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
India's gross sugar production is estimated to decline 2 per cent to 333 lakh tonnes in 2024-25 marketing year starting October, according to industry body ISMA. Indian Sugar Mills & Bio-Energy Manufacturers Association (ISMA) on Tuesday released the preliminary estimates of sugar production for 2024-25 marketing year (October-September). The estimate was released after comprehensive analysis of satellite imagery, field reports on expected yields, sugar recovery rates, drawal percentage, the impact of rainfall from previous and current years, water availability in reservoirs, and anticipated rainfall during the Southwest Monsoon 2024. In its forecast, the association has pegged the country's gross sugar production (without diversion for ethanol) at 333.10 lakh tonnes for 2024-25, from an estimated 339.95 lakh tonnes in the current 2023-24 marketing year. Net sugar production is estimated at 319.65 lakh tonnes for the current marketing year, taking into account 20.30 lakh tonnes ...
To provide relief to sugar mills, the government has come out with revised guidelines for loans taken under the Sugar Development Fund (SDF), giving factories option of debt restructuring and also a one-time settlement. As on January 31, sugar mills have an outstanding loans of Rs 3,730.15 crore under different schemes, of which, penal interest is about Rs 939.87 crore, according to official data. Issuing the revised operational guidelines for restructuring of SDF loans on February 28, the food ministry said, "Restructuring of the SDF loans would be in the form of capitalisation of balance interest, along with principle and re-schedulement," it said. In case of restructuring, the penal interest will be waived off, it said. Under the restructuring option, the government has offered a moratorium period of 24 months for payment of balance principal amount and interest amount. However, normal interest will continue to accrue during the moratorium period. "Balance loan amount, includi
Proposal might not find much favour with farmers in an election year
Lower sugar output from India, the world's biggest producer of the sweetener, will leave hardly any surplus for additional exports during the current 2022/23 season
The apex sugar body has urged the govt to not experiment with a new export system
The government will soon announce export quota of sugar for next marketing year starting October, Food Secretary Sudhanshu Pandey said on Monday. He however did not disclose the quantity of sugar that will be allowed for export in 2022-23 marketing year. "We will soon announce the sugar export policy for next season," Pandey told reporters here on the sidelines of 82th AGM of Roller Flour Millers Federation of India (RFMFI). In May, the government had allowed exports of 100 lakh tonne of sugar, but later allowed another 12 lakh tonne. This took the total export quota for 2021-22 marketing year to 112 lakh tonne. India's sugar exports stood at 70 lakh tonne in 2020-21 marketing year, 59 lakh tonne in 2019-20 and 38 lakh tonne in 2018-19. Earlier this month, sugar industry body ISMA had demanded that the government allow exports of 80 lakh tonne of sugar for 2022-23 marketing year in view of surplus production. Indian Sugar Mills Association (ISMA) president Aditya Jhunjhunwala ha
35 years' experience in oil & gas, micro banking and other sectors; IIM alumnus to assume office on Sept 15
Sugar production in the current year now estimated at more than 36 MT, against expectation of 35 MT
Urge timely decision on the matter as global prices are firm , and they can sign future contracts at good prices
Sugar industry body ISMA on Wednesday said the government's decision to cap sugar exports at 10 million tonnes in 2021-22 marketing year ending September will not have a significant impact
Since Oct. 1, 2022, when the current sugar season began, Indian mills have signed contracts to export a record 8 million tonnes of the sweetener
The record drop in stocks has largely been due to bumper exports of seven million tones and diversion of 2.1 million tones of sugar towards ethanol
In coming season, the state's sugar output is pegged at 12.3 million tonnes
The current season began on October 1
The excess production is a major issue as mills had planned to expand ethanol production
The industry's closing stock as at the end of September seen at 10 million tonnes