Page 3 - Sugar Mills

Sugar mills object to Centre's move to raise domestic sales quota for Sept

In India, the Central government determines the quantity of sugar that each mill can sell in the domestic market each month which keeps on changing depending upon the demand-supply matrix.

State Bank of India moves NCLT to recover dues from Bajaj Hindusthan Sugar

The sugar and ethanol producer owes nearly Rs 4,800 crore to banks

Govt relaxes sugar export quota for 2021-22; allows extra 1.2 MT shipments

Sugar mills have already exported nearly 10 million tonnes so far -- an all-time high -- in the current marketing year. The industry has been demanding that the export cap should be enhanced.

Rs 15/quintal hike in sugarcane FRP to Rs 305 per quintal for FY23 season

The decision will benefit around 50 mn sugarcane farmers and their dependents, as well as about 500,000 workers employed in sugar mills and related ancillary activities

Pay Rs 22 cr dues to cane growers by selling mill property: Punjab min

Punjab Agriculture Minister Kuldeep Singh Dhaliwal directed officials to sell the property of a sugar mill to make pending payments to the cane growers

Not so sweet for UP sugar industry as giant Bajaj Hindusthan gets NPA tag

Bajaj Hindusthan badly needs money to shore up its operations but its NPA tag to make raising funds difficult

Sugar mills foresee output spike, want 8 mn tonne OGL exports next season

Urge timely decision on the matter as global prices are firm , and they can sign future contracts at good prices

Sugar mills question export quota allotment; Centre says it's transparent

ISMA ups 2021-22 sugar production estimate to a record 36 million tonnes

Indian mills waiting to export 1.5 MT sugar after selling 8.5 MT: Report

India has exported around 8.5 million tonnes of sugar since the current season began on Oct 1, with exporters likely to contract another 1.5 million tonnes for overseas sales in the next five months

India signs deals to export 8.5 MT sugar in 2021/22, says trade body

Mills have already dispatched around 7.1 million tonnes since the start of the marketing year on Oct. 1, the Indian Sugar Mills Association (ISMA) said

Centre looks to ensure easy credit from banks to cooperatives sugar mills

With cooperative sugar mills complaining of difficulty in accessing loans from banks due to a plethora of conditions, FM Sitharaman held a high-level meeting with senior officials to iron out glitches

Gadkari urges mill owners to cut production of sugar, focus on ethanol

Raising concerns over the surplus sugarcane production in Solapur, Union Minister Nitin Gadkari on Monday urged sugar mills owners to reduce the production of sugar and increase the production of ethanol.Gadkari was in Solapur on Monday for the foundation stone-laying ceremony of national highway projects. The minister said if the production goes on like this, then farmers would have no option other than suicide.Meanwhile, India's sugar exports surged by 64.9 per cent to $4.6 billion in the financial year 2021-22 from $2.79 billion recorded in the previous year, according to the latest government data.As per data released by the Directorate General of Commercial Intelligence and Statistics (DGCI & S), India exported sugar to 121 countries across the world during the financial year ended March 2022.India is the world's second-largest sugar producer after Brazil. Since 2010-11, India has consistently produced surplus sugar, comfortably exceeding the domestic requirements. The record

India signs deals to export 7.2 million T sugar in 2021/22, says trade body

Mills have already dispatched around 5.7 million tonnes since the start of the marketing year on Oct. 1, the Indian Sugar Mills Association (ISMA) said in a statement.

Sugar mills sold as per court orders during Cong-NCP rule: Ajit Pawar

Refuting allegations that the erstwhile NCP-Congress government in Maharashtra had sold sugar mills at undervalued rates, Ajit Pawar claimed that their auctions were carried out as per court orders

Sugar mills again allege OMCs differentiating in ethanol purchase tie-ups

The OMCs, on their part, according to earlier reports, said that there is no preference in awarding contracts for supply of ethanol

Closing sugar inventory likely to be second lowest in 10 years this year

This should augur well for millers and help clear cane dues, and also ensure a steady price of the commodity in the open market

Dharani Sugars to Shree Renuka, sugar stocks fly high on ethanol norms

Among the major sugar companies, stocks of Dharani Sugars have jumped 305 per cent, Shree Renuka Sugars 239 per cent, and Triveni Engineering Industries 238 per cent.

New recast norms: Sugar mills get 2-year stay for loans taken from SDF

The Centre has issued guidelines for restructuring of loans taken by mills from the Sugar Development Fund (SDF), providing a moratorium for two years and then repayment in five years to eligible defaulting factories. The total outstanding default from the SDF is nearly Rs 3,100 crore, including principal and interest, according to an official statement issued on Wednesday. On January 3, the Department of Food and Public Distribution issued guildelines "for restructuring of SDF Loans under Rule 26 of the SDF Rules 1983". The guidelines for restructuring has been issued to "facilitate rehabilitation of financially weak but economically viable sugar mills which have availed loans under the Sugar Development Fund Act, 1982". The department said guidelines have provision for a "two-year moratorium and then five years of repayment". This is expected to provide big relief to financially weak sugar mills which have availed SDF loans, the department said. "The outstanding amount of defau

Sugar mills to deliver better revenues, profits this season: CRISIL tracker

Exports are likely to be robust at about 5 million tonne. A 15-16 per cent rise in international prices is expected to make exports viable despite there being no government subsidies this time around.

India's October-December sugar output rises 4.3% YoY: trade body

India is the world's second-biggest sugar producer and the higher output could weigh on global prices