Drought situation to hit sugar output hard in Maharashtra and Tamilnadu

Even as the International Sugar Organization (ISO) has raised its forecast for 2018-19 global sugar surplus to 1.83 million tonnes, up from its previous estimate of 641,000 tonnes, thanks to increased production in India and Thailand as well as a diminished outlook for sugar consumption, Maharashtra and Tamilnadu in India are reporting huge output cuts […]

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India’s cotton imports may rise 80% this year; China to sell 800,000 tonnes of cotton from state reserves

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India’s cotton imports are likely to rise by 80 per cent this crop year (October 2018 to September 2019) to 2.7 million bales (one bale equals 170 kg) as compared to 1.5 million the previous year, according to latest data compiled by apex industry body, Cotton Association of India (CAI). “The major reason is unavailability […]

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Government support, lower production estimates to provide some respite to Indian sugar mills in near term: ICRA

A downward revision in domestic sugar production estimate to 30.7 million tonnes, as against the first advanced estimate of 31.5 million tonnes, along with a series of government support measures – both by the central government and various state governments- commencing May 2018 have provided some relief to oversupply hit sugar mills. Mr. Sabyasachi Majumdar, […]

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COMMENTARY – Higher sugar MSP positive, but domestic surplus situation overhung

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Authors: Ms. Khushbu Lakhotia, Senior Analyst, Corporate Ratings, India Ratings and Research (Fitch Group) & Mr. Jinesh Rajpara, Analyst, India Ratings and Research (Fitch Group)  The recent hike by Rs. 2 per kilogram (kg) in the minimum selling price (MSP) of sugar to Rs.31 per kg could generate an additional income of Rs.30-35 billion for […]

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