Page 2 - Sugar

Sugar production beats estimates with late pick up in rains raising output

That is down 1.8% from the previous full year, but already above the around 29 million metric tons expected at the start of the current season due to drought in Karnataka and Maharashtra states

Sugar mills can use 670,000 tons of B-heavy molasses to make ethanol: Govt

The government has allowed sugar mills to use 6.7 lakh tonnes of B-heavy molasses as feedstock for making ethanol in the current year, a senior Food Ministry official said on Wednesday. Sugar mills were holding excess stock of B-heavy molasses -- a byproduct of the sweetener -- produced before the ban on its use on December 7 last year. However, a week later, the government reversed the ban and allowed the use of cane juice and B-heavy molasses, but within the overall cap of a diversion of 17 lakh tonnes of sugar for ethanol production for the 2023-24 supply year (November-October). "We have permitted sugar mills to use B-heavy molasses lying with sugar mills for ethanol. The same has been communicated to the Petroleum Ministry," the official told PTI. This will be over and above the capped diversion of 17 lakh tonne of sugar for ethanol production for 2023-24, he added. Currently, sugar mills have a B-heavy molasses stock of 6.7 lakh tonnes as per the state cane commissioners. T

Added sugar in baby food? FSSAI to examine charges against Nestle

Swiss investigative group says it found packaged goods major added sugar in the form of sucrose or honey in range sold in Asia, Africa, and Latin America

India may devote more sugar to ethanol in blow to export hopes: Report

The nation extended its export restrictions in October to protect domestic supplies ahead of national elections

ISMA urges govt to permit sugar export of 1 million tonne this season

Indian Sugar Mills Association (ISMA) has requested the government to allow the export of 10 lakh tonne of sugar in the current 2023-24 season, anticipating healthy closing stock by the season-end. Sugar production has reached 302.20 lakh tonne till March of the current season against 300.77 lakh tonne in the year-ago period, it said in a statement. The sugar season runs from October to September. Currently, there are curbs on the export of sugar from the country. In mid-March, ISMA revised its net sugar production estimate for the 2023-24 season to 320 lakh tonne. "In light of the above, ISMA has requested the government to permit the export of 10 lakh tonne of sugar in the current season," ISMA said. The request for export suggests a careful balance between meeting domestic consumption needs, sustaining the Ethanol Blending Program (EBP) and leveraging surplus for export opportunities, it added. The industry body said weather forecasting agencies have predicted a normal to ...

Net sugar output dips to 280 MT so far in 2023-24 mkt yr ending Sep: ISMA

India's net sugar production fell marginally to 280.79 lakh tonnes till March 15 of the current marketing year that started in October 2023, according to trade data released on Monday. Sugar marketing year runs from October to September. "Sugar production till 15th March 2024 in the current 2023-24 season reached 280.79 lakh tonnes, against 282.60 lakh tonnes produced last year on the corresponding date," Indian Sugar Mills Association (ISMA) said in a statement. Number of factories operating as on March 15 this year stood at 371 as against 325 mills on the same day last year. In Uttar Pradesh, sugar production stood at 88.40 lakh tonnes as against 79.63 lakh tonnes during the period under review. Sugar output in Maharashtra fell marginally to 100.50 lakh tonnes from 101.92 lakh tonnes, while production in Karnataka declined to 47.55 lakh tonnes from 53.50 lakh tonnes. Recently, ISMA has pegged sugar production at around 323 lakh tonnes for the 2023-24 marketing year after the ..

Triveni Engineering acquires 25.43% stake in Sir Shadi Lal Enterprises

Sugar company Triveni Engineering & Industries Ltd has acquired a 25.43 per cent stake in Sir Shadi Lal Enterprises Ltd (SSEL) for Rs 35 crore and launched an open offer to shareholders for acquiring an additional 26 per cent stake. Triveni Engineering is one of the leading integrated sugar producers in the country. It is also into engineered-to-order high speed gears & gearboxes and water and waste water management business. In a statement, the company said it has acquired a 25.43 per cent stake in SSEL. Pursuant to a share purchase agreement executed with Vivek Viswanathan and Radhika Viswanathan Hoon on January 30, 2024, the company on Monday acquired 25.43 per cent equity stake in SSEL for an aggregate consideration of Rs 35 crore, i.e. at a price of Rs 262.15 per equity share of SSEL. To acquire a majority stake in SSEL, the company had launched an open offer to the shareholders of SSEL to acquire up to 26 per cent of the outstanding voting share capital at Rs 262.15 per .

Sugar output declines by 1.19% to 25.53 MT so far this marketing year: ISMA

The country's sugar production declined 1.19 per cent to 25.53 million tonne so far in the ongoing 2023-24 marketing year, industry body ISMA said on Monday. Sugar production stood at 25.84 MT till February in the year-ago period. Sugar marketing year runs from October to September. In its second estimate, the Indian Sugar Mills Association (ISMA) has projected sugar output to decline by 10 per cent to 33.05 MT in the current 2023-24 marketing year as against 36.62 MT in the previous year. According to ISMA, sugar production in Maharashtra, Karnataka, Gujarat, and Tamil Nadu remained lower till February of the ongoing marketing year. However, sugar output in Uttar Pradesh -- the country's second largest producer of the sweetener -- was higher at 7.81 MT as against 7 MT in the period under review. The production in Maharashtra -- the country's largest producer of sugar -- was down at 9.09 MT till February of this marketing year, compared with 9.51 MT in the year-ago period. Simil

ISO raises forecast for size of global sugar deficit for current season

A Reuters poll of analysts and traders this month gave a median forecast of a small surplus of 500,000 tons in the 2023/24 season

AISTA urges govt to extend sugar sale of February quota by two weeks

Trade body AISTA on Tuesday urged the government to extend the deadline of selling sugar of February quota by two weeks in March as millers were not able to sell their monthly allocated quota in the domestic market. At present, the government fixes a monthly quota for the sale of sugar in the domestic market. On average, about 21 lakh tonne quota is fixed for a monthly sale for mills. For the current month, the nodal food ministry has fixed 22 lakh tonnes for the sale of sugar for mills. Mills are required to sell at least 90 per cent of the monthly quota as per the stock holding limit order of the ministry. Speaking to PTI, All India Sugar Trade Association (AISTA) Chairman Praful Vithalani said the association has written a letter to Union Food Secretary Sanjeev Chopra sharing constraints faced by mills in selling the February quota of sugar. He said most sugar mills have not been able to complete their sales quota during the current month and "we have requested the Secretary to

Magadh Sugar Q3 results: Net profit rises 77.3%, income at Rs 219 cr

Magadh Sugar & Energy, a part of the KK Birla group, on Wednesday reported a 77.3 per cent increase in its net profit to Rs 39 crore in the third quarter of the current financial year. The company had posted a Rs 22 crore profit in the same period previous fiscal. The total income of the company stood at Rs 219 crore at the end of the September-December quarter, registering a rise of 4.2 per cent over Rs 210 crore in the year-ago period, a company statement said. Its earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 62 crore at the end of the quarter under review as against Rs 45 crore in the same period in the previous financial year. Magadh Sugar & Energy chairperson C S Nopany said, "In the light of recent government notifications, including a rise in sugar cane prices in Bihar, and adjustments to ethanol procurement targets, challenges have increased. Amidst these challenges, the company remains steadfast in leveraging synergies and ...

Balrampur Chini Q3 results: Net profit nearly doubles to Rs 91 crore

Leading sugar producer Balrampur Chini Mills Limited (BCML), on Thursday reported a 97 per cent jump in consolidated net profit to Rs 91.32 crore in the third quarter ended December 2023 on the back of better margins, against Rs 46.28 crore profit registered in the corresponding quarter last year. Revenue from operations for the quarter ended was Rs 1230.39 crore as against Rs 981.16 crore in the corresponding quarter of the last year, representing an increase of 25 per cent, the company said in a statement. EBITDA (excluding Other Income) during the quarter under review was higher by 42 per cent to Rs 113.39 crore as against Rs 79.67 crore in the corresponding quarter of the last year. BCML Chairman and Managing Director Vivek Saraogi said, "This quarter resulted in an improved supply of sugarcane for our operations. Overall, with our focused efforts on enhancing sugarcane quality and quantity, our cane development initiatives are on track and we expect to crush about 10 per cent

Sugar output declines by 7% to 14.87 MT during Oct 1-Jan 15: Industry body

Maharashtra's sugar production fell to 5.1 million tons from 6.09 million tons, while Karnataka's production dropped 12.7% to 3.1 mn tons, the National Federation of Cooperative Sugar Factories said

Three killed, five injured in boiler blast at sugar mill in UP's Sitapur

A senior official said the blast was caused by vapour build-up in the boiler's fermentation chamber

No proposal to lift export curbs on wheat, rice, sugar, says Piyush Goyal

Union Minister Piyush Goyal on Saturday said there is no proposal before the government as of now to lift export curbs on wheat, rice and sugar. He also said the country will not import wheat and sugar. "There is no proposal as of now to remove export restrictions on wheat, rice and sugar. And India will not import wheat and sugar," Goyal told reporters. India had banned wheat exports in May 2022, non-basmati rice exports from July 2023 and extended curbs on sugar exports beyond October 2023, as part of measures to control rising domestic prices.

Sugar firms seek court help against ban on use of cane juice for ethanol

The distillery in its petition to the Karnataka High Court said that as it produces only ethanol and not sugar from cane

India exports 8,606 tonnes of raw cane sugar to US under TRQ scheme

Shipments under the TRQ enjoy relatively lesser customs duties. After the quota is reached, a higher tariff applies to additional imports

Sugar production falls again, dips 7.7% to 11.2 mn tonnes in Oct-Dec: NFCSF

Sugar production was 7.7 per cent lower at 112 lakh tonnes in the first three months of the ongoing 2023-24 season, owing to lesser output in two key states, according to cooperative body NFCSF. Sugar production stood at 121.35 lakh tonnes during the October-December period of 2022-23 season. NFCSF has projected the country's total sugar output to be at 305 lakh tonnes in the 2023-24 season, lower than 330.90 lakh tonnes achieved in the 2022-23 season. Sugar season runs from October to September. Releasing the latest data, the National Federation of Cooperative Sugar Factories (NFCSF) said a total of 511 factories had crushed 1,223 lakh tonnes of sugarcane till December 2023 of the ongoing season. Among the top three sugar producing states, the output in Maharashtra and Karnataka remained lower during the October-December period of this season. "Since the central government has limited the production of ethanol from sugarcane juice, the total availability of new sugar in the coun

Govt issues revised order to allow use of sugarcane juice to make ethanol

The food ministry has issued a fresh order reversing ban on the use of sugarcane juice for making ethanol and allowed utilisation of the juice as well as B-heavy molasses to produce the green fuel in the 2023-24 supply year. The revised order comes days after the Centre on December 7 banned use of sugarcane juice and sugar syrup for the 2023-24 supply year (November-October) in an order to ensure adequate sugar supply in the domestic market and check prices. In a directive issued to all sugar mills and distilleries, the ministry said the oil marketing companies (OMCs) will issue a "revised allocation" of "sugarcane juice and B heavy molasses-based ethanol" for the 2023-24 supply year to "each distillery". OMCs have been asked to inform the food ministry after placement of revised contracts. After receiving the revised allocation, sugar mills and distilleries have been asked to supply ethanol strictly as per the revised quantity of cane juice and B-heavy molasses. "No diversion of

India to allow diversion of up to 1.7 million tons of sugar for ethanol

"A quota will soon be allocated for sugar mills and distilleries," said a senior government official, who preferred not to be named, following official rules