Ratings agency, India Ratings (Ind-Ra) said it expects sugar production to increase to 305 lakh tonnes in sugar year 2020-21 (SS21), factoring in a cane diversion equivalent to 15 lakh tonnes of sugar. Domestic oversupply will continue in Sugar Season (SS) 2021 due to high carryover stocks and an expected increase in production, it said […]
The domestic sugar production is likely to go up by 12 per cent to 30.5 million tonnes during the sugar year 2021, beginning October, due to availability of sugarcane in Maharashtra and Karnataka, according to an ICRA report. This forecast is after adjusting for the impact of the diversion of B-heavy molasses and sugarcane juice […]
A group of ministers (GoM), headed by Home Minister Amit Shah has recommended increasing the minimum selling price (MSP) of sugar by Rs 2 to 33 per kg to ensure the pending cane arrears of around Rs 20,000 crore is cleared by the sugar mills at the earliest. Finance Minister Nirmala Sitharaman, Food Minister Ram Vilas […]
In June, global food commodity prices rose for the first time since the beginning of the year driven by a rebound in vegetable oils, sugar and dairy quotations, the UN food agency said in its latest monthly report. However, in the cereals and meat markets, most prices remained under downward pressure amid market uncertainties posed […]
Sugar output in India, the world’s second largest producer after Brazil, is expected to increase by 17.69 per cent to 32.01 million tonnes during the season beginning October 2020 on likely higher availability of sugarcane for crushing, industry body Indian Sugar Mills Association (ISMA) said. The country’s sugar output has reached 27.02 million tonnes (MT) so far in the ongoing 2019-20 season […]
Despite demand destruction during the nationwide lockdown, sugar consumption in India is back to the pre-Covid level on a sharp increase in orders from cold drink and ice cream makers, who seek to fill their pipeline inventory and also meet their daily consumption, Business Standard reports. The restoration in demand has emerged from cold drink […]
Food markets will face many more months of uncertainty due to COVID-19, but the agri-food sector is likely to show more resilience to the pandemic crisis than other sectors, according to a new report released today by the Food and Agriculture Organization of the United Nations (FAO). The Food Outlook report provides the first forecasts for production and market […]
Global commodity food prices fell for the fourth consecutive month in May, as supplies appear strong and demand weakens due to economic contractions triggered by the COVID-19 pandemic, the Food and Agriculture Organization (FAO) of the United Nations reported today. The FAO Food Price Index, which tracks international prices of the most commonly-traded food commodities, averaged 162.5 points […]
Sugar production in the current sugar season (October 2019-September 2020) has been revised upwards to 27 million tonne (MT) compared with 26.5 million tonne projected at the beginning of the season, the Indian Sugar Mills’ Association (ISMA) said. ISMA had at the beginning of this season estimated a production of 26.5 MT for the current season. However, the gur and khandsari […]
The Covid-19-triggered lockdown has resulted in a drastic fall in sugar consumption across the country, as most sweetmakers were on a sabbatical. The lockdown has also accumulated farmer arrears. Against such stark realities, the central government is believed to have advised the Reserve Bank of India (RBI) to remove the beleaguered sugar sector from its […]
