Page 3 - Sugar

IBA calls for tax on non-alcoholic beverages based on sugar content

Indian Beverage Association on Monday called for rationalisation of GST structure on non-alcoholic beverages and levy taxes based on sugar content, saying with favourable policy the sector has the potential to grow to a size of Rs 1.5 lakh crore by 2030. Speaking at the release of a report by ICRIER on tax policy on carbonated beverages in India, Indian Beverage Association Secretary General J P Meena said non-alcoholic beverages are a key part of India's food processing sector and can play a very important role in making the country a global hub of manufacturing. He also said there is a need for bottled water to be taxed at 5 per cent GST across bottle sizes instead of different slabs of 12 per cent for 20 liter bottles and above and 18 per cent for less than 20 liter bottles in order to attract more private participation in supply of portable water in the country. "This (non-alcoholic beverage) sector as on date is estimated to be around Rs 60,000 crore and provided there is a ...

Govt mulling to increase ethanol price, sugar MSP: Food Minister Joshi

The government is considering increasing the ethanol price for 2024-25 season as well as minimum selling price of sugar, Food Minister Pralhad Joshi said on Thursday. Joshi said the proposal on hiking the ethanol price is under consideration of the government. The petroleum ministry is looking into the matter. Speaking to reporters on the sidelines of an event here, the minister also mentioned that the government is "considering a proposal to increase the minimum selling price of sugar", which remains unchanged at Rs 31 per kg, a rate established in February 2019. He also said the sugar production looks good for the 2024-25 season (October-September) on account of good monsoon. Ethanol prices, fixed by the government, have not been hiked since the 2022-23 ethanol supply year (November-October). Currently, ethanol produced from cane juice is priced at Rs 65.61/litre, while rates for ethanol from B-Heavy and C-Heavy molasses stand at Rs 60.73/litre and Rs 56.28/litre, respectively.

Govt notifies 8,606 tonnes raw cane sugar exports to US under TRQ regime

The government on Tuesday notified exports of 8,606 tonnes of raw cane sugar under the tariff-rate quota (TRQ) scheme to the US for the October 2024 - September 2025 period. Shipments under the TRQ enjoy relatively lesser customs duties. After the quota is reached, a higher tariff applies to additional imports. "The quantity of 8,606 MTRV (metric tonnes raw value) of raw cane sugar to be exported to USA under TRQ scheme from 01.10.2024 to 30.09.2025 has been notified," the Directorate General of Foreign Trade (DGFT) said in a public notice. A similar quantity was notified in January also. India, the world's second-biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well. The DGFT said that the quota will be operated by the Agriculture and Processed Food Products Export Development Authority (APEDA).

Strong earnings growth ahead for listed sugar companies' stocks

The blend ratio targeted is 20 per cent (80 percent petrol with 20 per cent ethanol) for Nov '24-Oct '25, up from an estimated 14 per cent in Nov '23-Oct 24

Sugar industry fears new norms likely to bring back old restrictions

Joint meeting of all associations to be convened to form a common response before September deadline

Govt plans to review 6-decade-old sugar production, pricing norms

The food ministry plans to revamp the nearly six-decade-old regulation regarding production, storage and pricing of sugar to align it with technological advancements. In this regard, the Ministry of Consumer Affairs, Food and Public Distribution has issued the draft 'The Sugar (Control) Order, 2024'. The ministry proposes to review the Sugar (Control) Order of 1966 due to the technological advancements in the production process. "...there are multiple changes in the sugar sector which necessitates the revamping of existing the Sugar (Control) Order, 1966," said the ministry while issuing the draft. The draft order details power the government to regulate production of sugar as well as restrict its sale, storage and disposal by producers and dealers. The ministry has invited stakeholders' comments on the draft by September 23. On power to regulate price of sugar, the draft says: "The Central Government shall, at the time of issuing any order regarding price of sugar for sale...tak

India's gross sugar output may fall 2% to 33.3 mn tonnes in 2024-25: Isma

India's gross sugar production is estimated to decline 2 per cent to 333 lakh tonnes in 2024-25 marketing year starting October, according to industry body ISMA. Indian Sugar Mills & Bio-Energy Manufacturers Association (ISMA) on Tuesday released the preliminary estimates of sugar production for 2024-25 marketing year (October-September). The estimate was released after comprehensive analysis of satellite imagery, field reports on expected yields, sugar recovery rates, drawal percentage, the impact of rainfall from previous and current years, water availability in reservoirs, and anticipated rainfall during the Southwest Monsoon 2024. In its forecast, the association has pegged the country's gross sugar production (without diversion for ethanol) at 333.10 lakh tonnes for 2024-25, from an estimated 339.95 lakh tonnes in the current 2023-24 marketing year. Net sugar production is estimated at 319.65 lakh tonnes for the current marketing year, taking into account 20.30 lakh tonnes ...

LVMH-backed L Catterton seeks Sebi approval for Rs 4,000 crore India fund

US-based private equity firm L Catterton is likely to invest in India alongside its next Pan Asia dollar fund on a pro-rata basis

Sugar summit: India to host Global ISO Council meet from June 25-27

India is set to host the International Sugar Organization (ISO) Council Meeting from June 25-27, in the national capital, bringing together delegates from over 30 countries to discuss critical issues in the sugar and biofuel sectors. As the world's largest consumer and second-largest producer of sugar, India has been nominated to chair the ISO for 2024, an official statement said. The event kicked off with an industrial tour to a grain-based distillery in Muzaffarnagar, Uttar Pradesh, on June 24, demonstrating India's adoption of cutting-edge technology in biofuel production. The main proceedings begin on June 25 with a workshop titled "Sugar and Biofuels -- Emerging Vistas" at Bharat Mandapam, to be inaugurated by Union Minister for Food as well as New & Renewable Energy Pralhad Joshi. Over 200 delegates, including international representatives, top management from Indian sugar mills, and industry associations, are expected to participate in discussions on the global sugar ...

How to manage children's sugar consumption? Here are the tips for parents

Sugar consumption by children is a critical problem for parents and it is important to monitor their intake of sugar. Here are some tips for parents to manage their children's sugar consumption

India's sugar consumption might touch 30 million tonnes next season

India's annual sugar consumption growth rate of 2.2 per cent is significantly higher than the world average which is closer to 1 per cent

Decision on resumption of sugar exports months away, says food secy

"It is still early days," Sanjeev Chopra, India's Secretary of Food and Public Distribution, told reporters on the sidelines of the Citi ISO Datagro Sugar Conference in New York

Govt should allow 2 MT of sugar exports in 2023-24 mkt yr ending Sep: Isma

Sugar industry body ISMA has urged the government to allow 20 lakh tonnes of sugar exports in the current marketing year ending September as shipments of surplus sweetener would boost liquidity of millers enabling them to make cane payments to farmers on time. For the current 2023-24 marketing year (October- September), the government has not allowed sugar exports to boost domestic supply and control retail prices. In the preceding marketing year, sugar mills were allowed to export around 60 lakh tonnes of sugar. In a statement on Monday, Indian Sugar and Bio-Energy Manufacturers Association (ISMA) said that the production has reached about 314 lakh tonnes as of the end of April 2024. With additional output of 5-6 lakh tonnes expected from mills in Karnataka and Tamil Nadu, the final net sugar production is estimated to be close to 320 lakh tonnes in 2023-24 marketing year (October-September). The net sugar production stood at 328.2 lakh tonnes during the 2022-23 marketing year wi

Not so sweet anymore: How India's relationship with sugar is turning sour

With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar

Sugar production beats estimates with late pick up in rains raising output

That is down 1.8% from the previous full year, but already above the around 29 million metric tons expected at the start of the current season due to drought in Karnataka and Maharashtra states

Sugar mills can use 670,000 tons of B-heavy molasses to make ethanol: Govt

The government has allowed sugar mills to use 6.7 lakh tonnes of B-heavy molasses as feedstock for making ethanol in the current year, a senior Food Ministry official said on Wednesday. Sugar mills were holding excess stock of B-heavy molasses -- a byproduct of the sweetener -- produced before the ban on its use on December 7 last year. However, a week later, the government reversed the ban and allowed the use of cane juice and B-heavy molasses, but within the overall cap of a diversion of 17 lakh tonnes of sugar for ethanol production for the 2023-24 supply year (November-October). "We have permitted sugar mills to use B-heavy molasses lying with sugar mills for ethanol. The same has been communicated to the Petroleum Ministry," the official told PTI. This will be over and above the capped diversion of 17 lakh tonne of sugar for ethanol production for 2023-24, he added. Currently, sugar mills have a B-heavy molasses stock of 6.7 lakh tonnes as per the state cane commissioners. T

Added sugar in baby food? FSSAI to examine charges against Nestle

Swiss investigative group says it found packaged goods major added sugar in the form of sucrose or honey in range sold in Asia, Africa, and Latin America

India may devote more sugar to ethanol in blow to export hopes: Report

The nation extended its export restrictions in October to protect domestic supplies ahead of national elections

ISMA urges govt to permit sugar export of 1 million tonne this season

Indian Sugar Mills Association (ISMA) has requested the government to allow the export of 10 lakh tonne of sugar in the current 2023-24 season, anticipating healthy closing stock by the season-end. Sugar production has reached 302.20 lakh tonne till March of the current season against 300.77 lakh tonne in the year-ago period, it said in a statement. The sugar season runs from October to September. Currently, there are curbs on the export of sugar from the country. In mid-March, ISMA revised its net sugar production estimate for the 2023-24 season to 320 lakh tonne. "In light of the above, ISMA has requested the government to permit the export of 10 lakh tonne of sugar in the current season," ISMA said. The request for export suggests a careful balance between meeting domestic consumption needs, sustaining the Ethanol Blending Program (EBP) and leveraging surplus for export opportunities, it added. The industry body said weather forecasting agencies have predicted a normal to ...

Net sugar output dips to 280 MT so far in 2023-24 mkt yr ending Sep: ISMA

India's net sugar production fell marginally to 280.79 lakh tonnes till March 15 of the current marketing year that started in October 2023, according to trade data released on Monday. Sugar marketing year runs from October to September. "Sugar production till 15th March 2024 in the current 2023-24 season reached 280.79 lakh tonnes, against 282.60 lakh tonnes produced last year on the corresponding date," Indian Sugar Mills Association (ISMA) said in a statement. Number of factories operating as on March 15 this year stood at 371 as against 325 mills on the same day last year. In Uttar Pradesh, sugar production stood at 88.40 lakh tonnes as against 79.63 lakh tonnes during the period under review. Sugar output in Maharashtra fell marginally to 100.50 lakh tonnes from 101.92 lakh tonnes, while production in Karnataka declined to 47.55 lakh tonnes from 53.50 lakh tonnes. Recently, ISMA has pegged sugar production at around 323 lakh tonnes for the 2023-24 marketing year after the ..