The latest World Agriculture Supply and Demand Estimate report from the U.S. Department of Agriculture (USDA) gave the following projections for various crops for 2018/19. World 2018/19 wheat supplies are raised 2.1 million tons due mainly to increased beginning stocks that largely reflect multi-year revisions for Iran. Global production and exports are each reduced fractionally, […]
India’s sugar production rose by 6% to 273.47 lakh tonnes till March 15, 2019, the Indian Sugar Mills Association (ISMA) said in a statement. On the corresponding date last year, 258.20 lakh tonnes had been produced with 399 mills operating as on 15th March 2018, the industry data said. “During 2018-19 SS, 527 sugar mills […]
Global food prices rose in February, with the FAO Food Price Index averaging 167.5 points, up 1.7 percent from January, in part driven up by sharp increases in dairy prices. The Index, which is an indicator of the monthly changes in international prices of a basket of food commodities, is currently at its highest level since August […]
A government decision to approve Rs. 2790 crore interest subvention for extending loan amount of around Rs. 12,900 crore by banks to India’s sugar mills for augmentation of ethanol distillery capacities is a positive given the oversupply conditions, ratings agency ICRA said. The move is likely to address the current supply-demand imbalance over the medium […]
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 […]
For the first time in five years Indian traders will export raw sugar to Iran for March and April delivery as Iran struggles to secure food supplies under sanctions imposed by the United States, Reuters reported. Under the sanctions, Iran is blocked from the global financial system, including using U.S. dollars to transact its oil […]
The Centre is likely to revise the sugar minimum selling price (MSP) by 10 per cent from its current level of Rs 29 a quintal to Rs 32 a quintal in the weeks ahead. Last year, the Union food ministry had fixed the ex-factory sugar sale price at Rs 29 a quintal to help domestic sugar mills […]
India’s sugar production till December 31, 2018 was up by 6.7 per cent to 110.52 lakh tonnes as compared to 103.56 lakh tonnes in the same period last year, industry body Indian Sugar Mills Association (ISMA) said in its latest report. As on the last day of 2018, 501 sugar mills were in operation in […]
The estimated sugar production in India for sugar year (SY) 2019 is around 31-31.5 million tonnes, according to ratings agency ICRA. This estimate is lower as against the earlier estimate of 35 million tonnes given in July 2018. Despite the expected decline in the sugar production, the surplus scenario is likely to prevail and the […]
Delegation of Indian Sugar industry held talks with top representatives of all three sugar refineries in South Korea during seventh round of India-South Korea Comprehensive Economic Partnership Agreement (CEPA) to pursue the matter of exports of sweetener to the country. The negotiations were held in South Korea between December 11 and 13. South Korea imports […]