India’s sugar production likely to decline next season, but surplus to continue to pressure prices – ICRA

India’s sugar production is likely to decline in the sugar year (SY) 2020 due to drought-like conditions in Maharashtra and Karnataka after a record sugar production in SY2019, ratings agency ICRA said in a statement. “Despite the expected decline, pressure is likely to continue on the sugar prices and the consequent operating margins in FY2020 […]

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Sugar prices recovering, but unlikely to sustain momentum on continued oversupply – ICRA

The sustainability of recovery in sugar prices recently to around Rs. 33,000-33,500/MT (ex-mill UP) from Rs. 31,000/MT in April 2019 seems uncertain given the significant oversupply conditions in the domestic market, ratings agency ICRA said in a note. The expectation of a decline in the cane availability in the key sugar producing state Maharashtra for […]

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With rise in iron ore rates, steel companies in India hike prices by Rs 750 a tonne after 4 months

Taking cues from the global market, domestic primary steel producers have raised prices of steel by Rs 750 per tonne from February 1. This is the first hike in domestic steel prices since October. Domestic steel prices were in the range of Rs 42,000-44,000 per tonne depending upon various products. Naveen Jindal-led Jindal Steel & […]

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ICRA has stable outlook on India’s gold jewellery industry despite subdued demand

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Ratings agency ICRA has a stable outlook on gold jewellery retail industry. Following a strong 9% volume growth in FY2018, gold jewellery demand has been subdued in the current year. Jewellery sales during the critical festive period, August to November 2018, was relatively sluggish due to various factors like elevated gold prices, and floods in […]

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