Sugar

Sugar raw material prices rose faster than final product in last 5 years

Also, a report by Infomerics Ratings showed that in the last five financial years WPI rose by 24.3 per cent over the past 5 years

Wheat sowing continues to progress, sugar output dips till mid-December

Wheat markets are also anticipating a decision on imports in the near future if prices continue to remain high

Sugar output slumps 44% in early 2024-25 season as mills delay crushing

India's sugar production dropped 44 per cent to 7.10 lakh tonnes in the first six weeks of the 2024-25 season compared with 12.70 lakh tonnes a year earlier, as fewer mills started crushing operations, industry body NFCSFL said on Friday. Only 144 sugar mills were operational as of November 15, down from 264 mills in the previous year, the National Federation of Cooperative Sugar Factories Ltd (NFCSFL) said in a statement. Maharashtra, one of India's top three sugar-producing states, has yet to begin crushing operations. Last year, 103 mills were operational in the state during the same period. Sugar recovery rates remained stable at 7.82 per cent, matching last year's levels, the cooperative body said. In Karnataka, production fell to 26.25 lakh tonnes from 53.75 lakh tonnes a year ago, with only 40 mills operating. Uttar Pradesh had 85 operational mills during the period. The industry body estimates total sugar production for the 2024-25 season, which runs from October to Septem

Sugar industry calls for price hike to Rs 39.14 per kg to help cut losses

Sugar industry body ISMA has demanded that the minimum selling price (MSP) of the sweetener should be increased to Rs 39.14 per kg from the current Rs 31 per kg as millers are facing losses due to high production cost. In a statement on Tuesday, the Indian Sugar and Bio-Energy Manufacturers Association (ISMA) called for an increase in the Minimum Sale Price (MSP) of sugar, which has remained unchanged at Rs 31 per kg since February 2019. During this period, it said the Fair and Remunerative Price (FRP) of sugarcane has increased five times, with the FRP now standing at Rs 340 per quintal for the 202425 sugar season. Under the Sugar Price (Control) Order of 2018, MSP determination should account for FRP levels, but the current MSP fails to reflect these rising costs. "As sugar contributes over 85 per cent of the industry's revenue, ISMA stresses that the ex-mill price of sugar must be sufficient to cover cane purchase costs and support financial viability," it said. Present ex-mill

Increase in ethanol production to prevent Indian sugar exports, says Wilmar

"Sugar diversion to ethanol will lead India to a tight sugar S&D (supply and demand) this season," the trader said in a note

Nestle to launch of 'no refined sugar' variants of infant food Cerelac

FMCG major Nestle India on Thursday said it will soon launch variants "with no refined sugar" of its infant food Cerelac. The announcement is important as Nestle India, part of Swiss multinational Nestle SA, recently faced criticism for having added sugar in Cerelac. In the company's earnings statement CMD Suresh Narayanan said: "We have achieved our ambition of introducing Celerac variants with no refined sugar." This was initiated three years ago and culminated this year with the introduction of new Cerelac variants with no refined sugar, he added. "The expanded Cerelac range in India will now consist of 21 variants, of which 14 variants will have no refined sugar," he said. Of these 14 variants, 7 will be available by end of November 2024 and the rest will be introduced in the coming weeks, he added. In April this year, Public Eye, a Swiss investigative organisation, and the International Baby Food Action Network (IBFAN), alleged that Nestle added sugar to its Cerelac products

IBA calls for tax on non-alcoholic beverages based on sugar content

Indian Beverage Association on Monday called for rationalisation of GST structure on non-alcoholic beverages and levy taxes based on sugar content, saying with favourable policy the sector has the potential to grow to a size of Rs 1.5 lakh crore by 2030. Speaking at the release of a report by ICRIER on tax policy on carbonated beverages in India, Indian Beverage Association Secretary General J P Meena said non-alcoholic beverages are a key part of India's food processing sector and can play a very important role in making the country a global hub of manufacturing. He also said there is a need for bottled water to be taxed at 5 per cent GST across bottle sizes instead of different slabs of 12 per cent for 20 liter bottles and above and 18 per cent for less than 20 liter bottles in order to attract more private participation in supply of portable water in the country. "This (non-alcoholic beverage) sector as on date is estimated to be around Rs 60,000 crore and provided there is a ...

Govt mulling to increase ethanol price, sugar MSP: Food Minister Joshi

The government is considering increasing the ethanol price for 2024-25 season as well as minimum selling price of sugar, Food Minister Pralhad Joshi said on Thursday. Joshi said the proposal on hiking the ethanol price is under consideration of the government. The petroleum ministry is looking into the matter. Speaking to reporters on the sidelines of an event here, the minister also mentioned that the government is "considering a proposal to increase the minimum selling price of sugar", which remains unchanged at Rs 31 per kg, a rate established in February 2019. He also said the sugar production looks good for the 2024-25 season (October-September) on account of good monsoon. Ethanol prices, fixed by the government, have not been hiked since the 2022-23 ethanol supply year (November-October). Currently, ethanol produced from cane juice is priced at Rs 65.61/litre, while rates for ethanol from B-Heavy and C-Heavy molasses stand at Rs 60.73/litre and Rs 56.28/litre, respectively.

Govt notifies 8,606 tonnes raw cane sugar exports to US under TRQ regime

The government on Tuesday notified exports of 8,606 tonnes of raw cane sugar under the tariff-rate quota (TRQ) scheme to the US for the October 2024 - September 2025 period. Shipments under the TRQ enjoy relatively lesser customs duties. After the quota is reached, a higher tariff applies to additional imports. "The quantity of 8,606 MTRV (metric tonnes raw value) of raw cane sugar to be exported to USA under TRQ scheme from 01.10.2024 to 30.09.2025 has been notified," the Directorate General of Foreign Trade (DGFT) said in a public notice. A similar quantity was notified in January also. India, the world's second-biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well. The DGFT said that the quota will be operated by the Agriculture and Processed Food Products Export Development Authority (APEDA).

Strong earnings growth ahead for listed sugar companies' stocks

The blend ratio targeted is 20 per cent (80 percent petrol with 20 per cent ethanol) for Nov '24-Oct '25, up from an estimated 14 per cent in Nov '23-Oct 24

Sugar industry fears new norms likely to bring back old restrictions

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

Govt plans to review 6-decade-old sugar production, pricing norms

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

India's gross sugar output may fall 2% to 33.3 mn tonnes in 2024-25: Isma

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 ...

LVMH-backed L Catterton seeks Sebi approval for Rs 4,000 crore India fund

US-based private equity firm L Catterton is likely to invest in India alongside its next Pan Asia dollar fund on a pro-rata basis

Sugar summit: India to host Global ISO Council meet from June 25-27

India is set to host the International Sugar Organization (ISO) Council Meeting from June 25-27, in the national capital, bringing together delegates from over 30 countries to discuss critical issues in the sugar and biofuel sectors. As the world's largest consumer and second-largest producer of sugar, India has been nominated to chair the ISO for 2024, an official statement said. The event kicked off with an industrial tour to a grain-based distillery in Muzaffarnagar, Uttar Pradesh, on June 24, demonstrating India's adoption of cutting-edge technology in biofuel production. The main proceedings begin on June 25 with a workshop titled "Sugar and Biofuels -- Emerging Vistas" at Bharat Mandapam, to be inaugurated by Union Minister for Food as well as New & Renewable Energy Pralhad Joshi. Over 200 delegates, including international representatives, top management from Indian sugar mills, and industry associations, are expected to participate in discussions on the global sugar ...

How to manage children's sugar consumption? Here are the tips for parents

Sugar consumption by children is a critical problem for parents and it is important to monitor their intake of sugar. Here are some tips for parents to manage their children's sugar consumption

India's sugar consumption might touch 30 million tonnes next season

India's annual sugar consumption growth rate of 2.2 per cent is significantly higher than the world average which is closer to 1 per cent

Decision on resumption of sugar exports months away, says food secy

"It is still early days," Sanjeev Chopra, India's Secretary of Food and Public Distribution, told reporters on the sidelines of the Citi ISO Datagro Sugar Conference in New York

Govt should allow 2 MT of sugar exports in 2023-24 mkt yr ending Sep: Isma

Sugar industry body ISMA has urged the government to allow 20 lakh tonnes of sugar exports in the current marketing year ending September as shipments of surplus sweetener would boost liquidity of millers enabling them to make cane payments to farmers on time. For the current 2023-24 marketing year (October- September), the government has not allowed sugar exports to boost domestic supply and control retail prices. In the preceding marketing year, sugar mills were allowed to export around 60 lakh tonnes of sugar. In a statement on Monday, Indian Sugar and Bio-Energy Manufacturers Association (ISMA) said that the production has reached about 314 lakh tonnes as of the end of April 2024. With additional output of 5-6 lakh tonnes expected from mills in Karnataka and Tamil Nadu, the final net sugar production is estimated to be close to 320 lakh tonnes in 2023-24 marketing year (October-September). The net sugar production stood at 328.2 lakh tonnes during the 2022-23 marketing year wi

Not so sweet anymore: How India's relationship with sugar is turning sour

With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar