The domestic sugar production is likely to go up by 12 per cent to 30.5 million tonnes during the sugar year 2021, beginning October, due to availability of sugarcane in Maharashtra and Karnataka, according to an ICRA report. This forecast is after adjusting for the impact of the diversion of B-heavy molasses and sugarcane juice […]
The demand for sugar has witnessed a significant decline following the nationwide lockdown. This is estimated to reduce domestic sugar consumption by at least one million (10 lakh) tonnes in the domestic market, says a report by ICRA. According to rating agency ICRA, the national lockdown due to COVID-19 pandemic has adversely impacted the sugar […]
As the Rs 15,000 crore soft loan scheme for sugar mills is moving at a snail’s pace, the government has extended the moratorium period for repayments by six more months, according to sources. Now, the moratorium period is one-and-a-half years. A moratorium period is a time during the loan term when the borrower is not […]
India’s monsoon is likely to be a robust and healthy one this year provided there isn’t a surprise El Nino phenomenon, India Meteorological Department (IMD) said. Monsoon rains, the lifeblood for India’s farm-dependent $2.6 trillion economy, arrive on the southern tip of Kerala state around June 1 and retreat from the desert state of Rajasthan […]
The domestic sugar sector has been going through a situation of excess supply which has negatively impacted their prospects. To support the industry, the Government of India (GoI) has announced key measures, such as creation of 3 million tonnes of buffer stock and fixing of minimum selling price (MSP) for sugar at Rs. 29,000/tonne. These […]
Sugar mills in southern India are reeling under low production and extremely low cane crushing capacity utilisation due to lower availability of cane Drought in south India has led to lower availability of cane, resulting in low capacity utilisation of sugar mills. The mills also have to deal with increasing fixed cost and price falls, […]
