Sugar Firms

India likely to keep lid on sugar exports as output dips: Reports

India is not looking at allowing more sugar exports, government and industry officials said on Thursday

Uttar Pradesh crosses Rs 12,000 crore mark in the ethanol economy

UP govt is trying to integrate the sugarcane crop with lucrative ethanol value chain in order to provide fair prices to the farmers and protect the sector from the cyclical nature of the sugar market

Shree Renuka Sugars to nearly double ethanol capacity; to invest Rs 700 cr

The 20% ethanol blending target has seen sugar sector majors betting on expanding the ethanol capacity; the sector could see an investment of about Rs 10,000 crore in the years ahead

Sugar output may fall; still there'll be 8 mt surplus for exports: ISMA

ISMA estimates that the diversion of cane juice and B-molasses to ethanol shall cut sugar production by about 4.5 mt during the next marketing year.

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

Lenders tag Bajaj Hindusthan as NPA, debt recast plan under discussion

Bajaj Hindusthan has defaulted to banks, UP farmers; says restructuring proposal is in accordance with RBI circular of June 7, 2019

Balrampur Chini Q4 net rises marginally to Rs 240 cr; total income up 26%

Total income increased to Rs 1,291.37 crore in the fourth quarter of the last fiscal. It stood at Rs 1,027.24 crore in the corresponding period of the previous year

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

Four sugar firms on UP govt's radar for not clearing cane dues to farmers

Recovery certificates to the groups, strict action against them on the cards

Sugar stocks trading weak on subsidy squeeze may be an anomaly

The combined market capitalisation (m-cap) of the country's top 15 sugar manufacturers was down 2.8 per cent on average on Friday

EID Parry reports Rs 339 crore Q3 standalone profit vs loss a year ago

Standalone revenue flat at Rs 439 cr, consolidated up 15%

Goa cabinet approves transfer of loss-making sugar factory to agr dept: CM

Cultivators from Sanguem and Quepem talukas take their sugarcane for crushing in this factory, which stopped functioning two years ago in view of losses that have mounted to Rs 100 crore

Convert sugar factories into bio-energy hubs, says Food Secretary

He also said there is a greater need for developing flexi sugar factories producing sugar and ethanol as per relative economics and market demand

Oil firms float fresh tender to procure 2.53 billion litres of ethanol

The new tender was floated because the first one for procurement of 5.11 billion litres of ethanol, issued in August last year, was vastly under-bid

Explained: Why sugar-producing firms' stocks are in a favourable cycle

Reducing sugar surplus, rising ethanol procurement, and potential for exports bode well

Global sugar-palm lobbies coming to India to protect their trade

A high-powered industry delegation from major sugar producing countries is expected to come to India in the next few weeks to press their views

7% hike in sugar MSP to put pressure on private mills to clear arrears

While the hike improves the realisation of beleaguered mills, with outstanding for current 2018-19 crushing season rising to almost Rs 22,000 cr, it remains below average production cost

Maharashtra govt to confiscate sugar in transit to clear cane arrears

The government of Maharashtra is targeting mills in Kolhapur and Sangli districts where arrears kept mounting

India may miss 2019 sugar MIEQ target on sustained fall in global prices

Missed 2018 target by 80%, sugar mills lower supply on delay in recovery of subsidy amount resulting into fear of working capital blockage

CCI imposes fine of Rs 380 million on sugar firms and their associations

The penalty was imposed by the commission at 7 per cent of the average relevant turnover of the sugar mills