Cooperative socieites in Maharashtra are facing big problems due to the fall in sugar prices.
In a letter written recently to the Finance Minister, Pawar had said that arrears of sugar mills have risen to over Rs 10,000 crore (Rs 100 billion) and there was a need to hike import duty to curb shipments, which is putting downward pressure on local prices.
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).
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It seems, as far as sugar and cane production is concerned, numbers are something the government can always juggle with in India.
While the country awaits for the grand pran pratishtha ceremony of Ram Lalla at Ayodhya's temple, on the sixth day of the ceremony, the Ram Lalla idol was bathed with water from 114 Kalash (vases), each containing specially medicated liquids.
On the back of demand supply mismatch, the India's sugar prices have again begin rising up.
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Projecting a dip by nearly 50 per cent in sugar exports to 10 lakh tonnes this season (October-September) from 18 lakh tonnes, sugar industry on Wednesday demanded enhancement of incentives given by the government.
Sugar industry is plagued by falling realisations, rising costs, huge carry over stocks leading to liquidity problems and huge losses.
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The Cabinet Committee on Prices also decided to permit UP mills to process imported raw sugar outside the state due to restrictions there.
Sudhakshina Unnikrishnan of Barclays Capital believes that global supplies and high production will keep sugar prices subdued. According to her, there has been a price correction of around 25% in six months.
In 2019, actor turned-politician Sumalatha Ambareesh, an independent backed by the BJP, won by defeating then Kumaraswamy's son and joint candidate of the then ruling Congress-JD-S alliance Nikhil by 1,25,876 votes.
Rajshree Sugars & Chemicals Ltd to acquire its subsidiary South India Sugars Ltd.
Bharti accused the media of distorting her statement, attributing it to the BJP's agenda.
The company's Chief Executive Officer G S C Rao, Chief Financial Officer Sanjay Tapriya, Executive Director Gursimran Kaur Mann and five non-executive directors have also been booked by the agency. Gurpal Singh is the son-in-law of Punjab Chief Minister Amrinder Singh.
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The government move comes after seeing the diagnostic study done by SBI Caps. On government request SBI Caps studied 15 state-owned closed down sugar mills. It recommended re-opening of eight mills, saying they were viable units.
The fast-moving consumer goods (FMCG) sector has underperformed the Nifty over the past year as its 20 per cent return is trumped by 29 per cent of the benchmark index. The FMCG index saw a 2.2 per cent drop in the last session, while the Nifty lost 1 per cent. FMCG is seen as a defensive segment. The demand for staples like personal care products, groceries and snacks tend to be stable. FMCG companies are consistent dividend-payers.
'An entire operation was running systematically prior to the revoking of Article 370.'
Choose home-cooked snacks prepared with minimal oil and sugar for sweetness. Avoid snacks prepared in ghee, butter or saturated oils, says Dr Harshal Ekatpure.
It is time the political leaderships in this country arrived at a common ground over issues of foreign and security policy concerns. There has to be a greater communication between the government and the Opposition leaderships for the nation to present a unified face against the rest of the world, advises N Sathiya Moorthy.
Sugar industry suffered another jolt this week when the Central government dropped its plans to offer incentives to mills for raw sugar exports.
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If you think that going for a no-carb diet can keep you fit, then you need to think again, for a new study has found that table sugar does more harm than starchy foods such as bread, rice and potatoes.
rediffGURU Dr Vinod Kumar, a consultant kidney health specialist at Aster RV Hospital, Bengaluru, offers advice to improve the health of your kidneys.
Check out the winners of the Sony World Photography Awards 2024. Now in its 17th year, the World Photography Organisation's awards ceremony is a major annual moment recognising the best photography in the world, celebrating the images and stories that have resonated with global audiences over the past year.
'When I give advice to my Indian relatives they are shocked.' 'I tell them to eat butter again and eggs and all that stuff.' And eat only so much rice.' 'Instead of having three chapattis, have one.' A must-read interview!
Pawar on a tour to the three Latin American countries, including Mexico and Argentina, will meet representatives of the sugar and the ethanol industries.
Stocks of sugar companies rose after the development. At the Bombay Stock Exchange, Bajaj Hindusthan, India's biggest producer, gained 4.25 per cent to close at Rs 121.35, Balrampur Chini gained three per cent and closed at Rs 88 while Renuka Sugars gained four per cent to Rs 68.
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Sugar sector is grappling with many issues.
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According to dermatologist Dr Fredric Brandt, removing anything sweet from your diet can make a person look 10 years younger.
'We were children and could not distinguish freedom from bondage, but we could understand that a momentous and happy event was imminent.'
She also holds the distinction of delivering the longest budget speech at two hours and forty minutes in 2020.
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