India’s sugar export rose by 20 per cent to an all-time high of 7.1 million tonnes in the 2020-21 marketing year ended last month on the back of better demand and financial assistance from the government, industry body ISMA said. Sugar exports stood at 5.9 million tonnes in the 2019-20 marketing year (October-September). Addressing a […]
India’s sugar production is likely to decline marginally to 30.5 million tonne in the next 2021-22 season as more sugarcane is being diverted for ethanol making. Sugar production was estimated to have reached 31 million tonne in the 2020-21 season (October-September). India is the world’s second biggest sugar producer after Brazil. “Sugarcane crop by and […]
State-run oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have been given the mandate to set up around 12 ethanol manufacturing plants as part of a road map to meet the 20% ethanol blending target by 2025. Tarun Kapoor, secretary, ministry of petroleum and natural gas, told Financial Express that the three oil majors have […]
Sugar output in Brazil, the world’s largest producer and exporter of the sweetener, is set to slump – and could suffer next year as well – after three frost events hit crops in the country’s center-south region in June and July, market analysts said. Brazil has been hit with an unusually harsh winter this year […]
India’s sugar inventories have fallen by 19 per cent and the country would start the 2021/22 marketing year with lowest stocks in four years. Sugar mills this year exported a record amount according to Indian Sugar Mills Association (ISMA). India is set to export a record 7 million tonnes of sugar in the current season, […]
India’s sugar output during 2021-22 is estimated to remain flat at around 310 lakh tonnes in the next marketing year starting October on higher diversion of cane juice for ethanol manufacturing, according to industry body ISMA. Sugar marketing year runs from October to September. The total area under coverage for sugarcane is estimated to be […]
In a move that will help both sugar millers and over 45 lakh farmers in Uttar Pradesh, 16 new distilleries are being set up or expanded in the state at a cost of Rs 1,250.44 crore, reports the Financial Express. The move to expand the distillery business comes at a time when the Centre is […]
India’s leading sugar company, Shree Renuka Sugars plans to infuse Rs 450 crore to expand its ethanol capacity. In a regulatory filing, the company informed that its board has approved expanding production capacity by 430-kilo litre per day to 1,400-kilolitre per day. And in February 2021, the board had approved a capacity expansion of ethanol […]
India is set to spend almost $7 billion to boost ethanol production as it prepares to roll out a greener mix of gasoline that may cut its dependence on foreign oil. About 10 billion liters of ethanol will be required each year to meet the 20 per cent ethanol-blended fuel standard by 2025, India’s Oil Secretary Tarun Kapoor said in an […]
High sugar exports for the second sugar season in a row, coupled with increased supplies of ethanol – and at remunerative prices – for blending with petrol, will improve the operating profitability of integrated sugar mills by 75-100 basis points (bps) to 13-14% this fiscal, a CRISIL Ratings analysis shows. Also, the recent announcement by […]
