Marketmen says besides ample stocks on regular supplies from mills following the beginning of a crushing session pulls down sugar prices
Upper Ganges, Oudh Sugar, Mawana Sugars, Kesar Ent, Dwarikesh Sugar and Simbhaoli Sugar were up 11% to 20%.
Production, at 787,000 tonnes is a marginal 15,000 tonnes higher as compared to last year on the same date
About 9 per cent of crops were in bad condition, up from 5.5 per cent in the 2015-16 survey
Country's sugar production had declined to 25.1 MT in the 2015-16 season due to drought in major growing states
Ponni Sugars (Erode), Rana Sugars, Simbhaoli Sugars, Uttam Sugar and Thiru Arooran were up 5%-15% on BSE.
No price hike for three years due to poor economic health of mills; this time, ruling party is pleasing cane farmers with one eye on 2017 assembly polls
Food Minister Ram Vilas Paswan said the government will soon start selling pulses through post offices
Sugar is available at an average price of Rs 40 per kg, although the maximum rate is Rs 47 per kg
All India average retail price of sugar is hovering at Rs 40-42 a kg
Dip is due to fall in sugarcane area and availability of the crop for crushing
First advanced estimates by ISMA forecasts sugar output at 23.37 mnT,a marginal recovery from its June estimates of 23.26 mnT
Louis Dreyfus expects India to consume about 25.5 million tonnes of sugar in 2016/17 compared with a production of about 22.5 million tonnes
Union govt has asked every sugar mill in the state to keep only 37% of its stock and to offload the rest by September 30
Dharani Sugars, Kesar Enterprises, Triveni Engg,, Dalmia Bharat Sugar and Mawana Sugars were up 10%-20%.
Mawana Sugars, Dwarikesh Sugar, Dharani Sugars, Thiru Arooran and Simbhaoli Sugars are up between 5% and 9%.
Marketmen said widening of the gap between demand and supply too supported the upside in prices
The cane and sugar production in the state is expected to be at par last year of little over than 68.55 lakh tonnes
The quantity works out to 20% more than consumption, price to crash in near term
It also appealed to Centre to direct RBI for continuation of exemption of levy on excise duty on ethanol