Page 2 - Sugar Mills

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

Some states not issuing BGs to sugar mills linked to Oppn parties: Shah

Union Home Minister Amit Shah made a veiled remark against the MVA government claiming bank guarantees were not being issued to some sugar mills that have links to leaders of opposition parties.

Sugarcane arrears in UP down to Rs 3,895 crore in 2020-21: Govt

Food and Consumer Affairs Minister Piyush Goyal on Tuesday said cane arrears in Uttar Pradesh have reduced to Rs 3,895 crore from Rs 10,661 crore in 2017. Goyal, who is the Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution and Textiles, virtually inaugurated 50th Convocation Ceremony of National Sugar Institute, Kanpur, according to an official statement. In his inaugural address, Goyal stressed the need to increase productivity and production of sugarcane to boost farmers' income. Goyal said the sugar industry will help increase income of lakhs of farmers in India by raising productivity. It should be the resolve of the institute and its students to increase the productivity and value addition in 50 lakh hectares of land under sugarcane farmers, the minister said. He said the institute and its students have the ability to change lives as well as livelihoods of lakhs of farmers. Goyal highlighted that the country's sugar exports rose 20 per cent to .

Sharad Pawar urges sugar mills to diversify, modernise manufacturing plants

Former Union agriculture minister Sharad Pawar on Tuesday asked sugar mills to diversify into other products like ethanol and CNG to deal with surplus production of sweetener

Amit Shah chairs meeting over issues related to sugar mills in Maharashtra

Union Home Minister and Cooperation Minister Amit Shah on Tuesday chaired a meeting over issues related to sugar mills in Maharashtra.

Sugar companies likely to witness 5-7% revenue growth in FY'22: Report

In light of surged global sugar prices, the export prospects look promising for the upcoming sugar season even if export policy isn't announced: Report

Sugar industry focus should be new tech: Food Secretary Sudhanshu Pandey

The Centre has decided to grant mills the entire quantity of sugar diverted in their monthly release quote

Govt announces incentive for mills diverting sugar for ethanol production

The government on Friday said it will allocate a quantity of sugar that is sacrificed for ethanol production for monthly domestic sale along with the regular quota from this month onwards

Cost-benefit of deferred cane outgo and end to area reservation

While Gujarat is the only state to have gone ahead with staggered payments, the issue of area reservation has been resisted by most states, Maharashtra being an exception