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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Apex co-operative bank of Maharashtra, India to raise sugar valuation to Rs 2,900 per quintal

The Maharashtra State Cooperative Bank (MSCB), the apex cooperative bank of the state, has decided to increase sugar valuations to Rs 2,900 per quintal, keeping in mind the Minimum Floor Price (MFP) decided by the Centre. The central government declared MFP at Rs 2,900 per quintal when a package was announced for the sugar sector […]

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Indian sugar prices likely to rise next year on lower output, former agri minister warns

Sharad Pawar, India’s former agriculture minister, has warned of a spike in sugar prices next year due to a demand-supply gap and urged the industry to be prepared for raw sugar imports by the government to boost supplies and contain prices. “This year, sugar production situation is good. But I don’t see similar situation in […]

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