Trade sources said it might not impact exports much; of the existing quota of 6 million tonnes, 5.7 million tonnes have already been contracted at higher subsidy rate
Shares of several firms rally between 15% and 20%
Indian Sugar Mills Association is an industry body
The country is the world's second-biggest sugar producer and the higher output could weigh on global prices
A few mills closed operations ahead of normal schedule, a trade body said on Wednesday
For the past few years, the sugar industry has faced the twin headwinds of surplus production and higher sugar inventory, leading to pressure on sugar prices
Proposed reforms are good but much more needs to be done
The drop was due to logistics constraints and less chances of shipments to Iran, trade body All India Sugar Trade Association (AISTA) said
Standalone revenue flat at Rs 439 cr, consolidated up 15%
Revenue-sharing mechanism can provide a lasting solution
Increase in minimum price of cane and export policy in new sugar season are also crucial to drive earnings
It has also pitched for a one-time increase in minimum sugar price to Rs 33 per kilo to help sugar mills cover the cost of production
With the malls and restaurants being allowed to open under unlock 1.0, the sugar demand will further rise.
Such a move would spur infusion of fresh liquidity and working capital in sugar mills, facilitating speedy settlement of cane arrears
Industry seeks allocation of special fund to clear pending export subsidy
Indian government is in the right direction says Sousa
To cost corporate users 20-30% more than kitchen consumers
Sugar marketing year runs from October to September
Bullish sentiment has been eroded by a raft of exports from India that Brazil, the top producer, calls 'unsustainable'
Even though world inventories are forecast to drop, the excess hoard is still big enough to satisfy annual consumption in India and the European Union, the top consumers