Amid the political push and pull, the Centre's decision to allow sugar exports and remove the 50 per cent duty on molasses exports has rekindled hope in the industry that more relief may follow.
The demand growth in the low-income category is expected to be driven mainly by packaged branded sugar as well as traditionally consumed gur (jaggery) and khandsari.
Debutant left-arm spinner Vaishnavi Sharma (5/5) recorded the best-ever figures in the ICC Under-19 Women's World Cup, including a hat-trick, to lead India to a commanding 10-wicket victory over Malaysia.
Increasing sugar production shall create problems for the industry, whereas boosting ethanol output can bring rich returns, Union Minister Nitin Gadkari told sugar mills on Wednesday. Speaking at a conference on sugar and ethanol, organised by the Indian Sugar Mills Association, Gadkari surprised the audience comprising senior executives of sugar mills by stating that the future will become bleak for the industry if it continues to churn out high quantities of sugar. "We need more ethanol than sugar. Also, bio-ethanol is the way to go as it can be stored for a longer duration as compared to conventional ethanol. "If you increase sugar production, it will create more problems for you.
The lack of freedom to make decisions on sound commercial basis is amplifying the financial distress for the Industry players. This lead too ever sharper swings in sugar production from year to year.
Sugar prices in October were Rs 36-37 a kg, from where they fell by Rs 8-9 per kg.
Output, consumption estimates further revised downwards; debt restructuring for mills possible.
Ex-mill sugar prices have remained steady in the range of Rs 3,250-3,350 per quintal in north India and at Rs 3,100-3,250 per quintal in the south India.
India's plan to produce ethanol from second-generation (2G) sources -- mainly farm waste -- is taking time to materialise even as the government is set to dedicate to the nation on Wednesday a Rs 900-crore plant set up by Indian Oil Corporation (IOC) in Panipat. Though state-run oil companies had decided to set up at least 12 plants in 2016-17 with an investment of around Rs 10,000 crore, this will be the first unit coming on track while others are stuck in various stages owing to issues like capital expenditure, lack of feedstock, and high rates of finished products compared to traditional ethanol units. According to industry sources, three more second-generation plants are coming up.
The production in Maharashtra is pegged higher at 11-11.5 million tonnes against 10.71 million tonnes
France wants Indian salt to help melt this season's mounting snowfall. A leading French chemical company involved in de-icing has approached Indian Salt Manufacturers' Association (Isma) for getting 250,000 tonnes.
A projected drop in production in the 2016-17 sugar season (October-September) has kept domestic prices firm, reflecting in improved profitability and stock prices of companies.
Chhetri was shown the first yellow in the 22nd minute after bringing down Anirudh Thapa, something he repeated on the same player after nine minutes to be sent off.
Maharashtra, the country's largest cane and sugar producer after Uttar Pradesh, had, over the past few years, weathered adverse market dynamics brought about by a domestic and global sugar glut, mounting arrears and muted exports.
The government allowed sugar companies and distilleries to make hand sanitizers using ethanol. Sugar companies supply ethanol to oil marketing companies for blending with petrol.
Head of the Dawoodi Bohra sub-sect of Islam Dr Snyedna Mohammad Burhanuddin is carried by followers after offering prayers in Ahmedabad late on Tuesday. The Dawoodi Bohras are a sub-sect of the Ismaeli Shia Islam, which is based in India.
The Indian Sugar Mills Association president and Balrampur Chini managing director Vivek Saraogi speaks to Ajay Modi on the way ahead for the industry.
Poor rain threatens recovery in production this season, sugar prices at three-month high
The increase in MAT rate from 15% to 18% in effective terms to 19.93% from 16.995% would mean higher cash outflow for the companies paying tax at MAT Rate like Balrampur Chini and Bajaj Hindusthan.
The Supreme Court on Monday stayed the execution of death sentence awarded to Abdul Ghani Isma Turk in connection with the 1993 Mumbai serial blasts case.
UP's mills, dominated by the private sector's 94 units, have already expressed their inability to participate in the next crushing season
The Indian government's decision to build 4 to 5 million tonnes of buffer stock of sugar has not gone well with the sugar industry.
Cheap equipment imports, especially from China, is a major reason for falling tariffs in solar tenders
In the Sensex pack, index heavyweight Reliance Industries fell 2.84 per cent to Rs 1,057.15 after reports that the company's oil assets may take a hit due to the government's imposition of cost controls on soaring petrol and diesel prices.
'The government is of the view that distilleries around Hapur and Bijnor would pollute groundwater in the vicinity and its spill over into the sacred Ganga. Hence, we are looking to close these distilleries to prevent them from discharging water into the open area,' said a senior UP government official.
Cristiano Ronaldo continued his rich vein of form by scoring twice in Real Madrid's 2-1 home win over struggling Sporting Gijon on Saturday, although the La Liga leaders got a lucky break when the visitors squandered a second-half penalty.
The benchmark M-30 variety of sugar has declined by over 3 per cent in November to trade now at Rs 3,694 per quintal
Three million tonnes of buffer stock, where the government bears the interest and insurance cost, was announced by the Centre only for a year and that period is ending in June.
The country has exported about 5 lakh tonnes of raw sugar so far availing the benefit of the subsidy, according to the Indian Sugar Mills Association (ISMA).
The 28-year-old is believed to be linked to thwarted attacks on a high-speed train from Amsterdam bound for Paris in August, as well as a planned attack on a Parisian church.
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